I have the same problem as BOM - Component Item Rate Not Populating even after hitting 'update cost'
I have one item as part01 with Valuation Rate = 20 in Material group.
I have one item as product01.
When I create BOM, select Rate Of Materials Based On = Value rate and I add part01 into Materials, error message is shown.
Message: Valuation Rate not found for Item part01 .
For click on Update costs, message is similar.
What I do wrong?