Inventory and Average Costs are Not Updated

Symptom

Steps to recreate:

1. Move Asset 11430 to a REPAIR Location (If a Repair Location does not
exist, create a new location with Type as Repair).
2. Create and Approve a work order against Asset 11430 (Make sure that the Charge To Store flag is checked).
3. Create a PO having one POLINE as Service for Unit Cost of 1000 and
enter work order number created above in Charge To Info.
4. Approve the PO.
5. RECEIPT against the above PO.

Expected Results:
The Inventory Cost for Asset 11430 should have been updated.
The Average Cost for Rotating Item PUMP100 should have been updated.

Actual Results:
The Inventory Cost for Asset 11430 doesn't get updated.
The Average Cost for Rotating Item PUMP100 doesn't get updated.

NOTE:
1. The Inventory Cost for Asset 11430 does not get updated in assets
application, the Inventory field (ASSET.INVCOST) in costs section displays zero. 2. Go to Inventory application, bring up item PUMP100
The Average Cost (INVCOST.AVGCOST) for Rotating Item PUMP100.