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Several Errors while creating Purchase Order

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no cost rollup is found for this item activate the item cost price ax 2012 

I am creating a Pucrchase order for my one particular product first i got the above error for product receipt part and after that working on item pricing of product. I activate the pending price then i get one more error

Item P0111 inventory model is at standard cost, you can only activate a standard cost costing type in ax 2012

for this error i deleted the already present pending price then created a new one and then make it activate but I am getting another different error i am still not find a solution. I am attaching both error image file please check and let me know the solution .

Thanks in advance


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