Hi guys - Question on Std costs... ‭When you convert from Avg cost method to Std Costing, do we need to do any additional journal entries after you make that change? Or is an inventory adjustment enough?

When I went to std costing, i had to do the following: 1. Create new item (with std cost) 2. create std cost version 3. Roll up process 4. Revalue std cost inventory 5. Create inventory adjustment from old item to new item. Extra fun with lot numbered inventory