diff --git a/stock_lot_valuation/stock_view.xml b/stock_lot_valuation/stock_view.xml
new file mode 100644
index 000000000..3f07e974c
--- /dev/null
+++ b/stock_lot_valuation/stock_view.xml
@@ -0,0 +1,18 @@
+<?xml version="1.0" encoding="utf-8"?>
+<openerp>
+<data>
+    <record id="view_production_lot_form" model="ir.ui.view">
+        <field name="name">view_production_lot_form</field>
+        <field name="model">stock.production.lot</field>
+        <field name="arch" type="xml">
+            <field name="stock_available" position="after">
+                <field name="standard_price" attrs="{'readonly':[('cost_method','=','average')]}"></field>
+                <field name="cost_method"></field>
+                <button name="%(action_view_change_standard_price)d" string="- update"
+                    type="action" attrs="{'invisible':[('cost_method','&lt;&gt;','average')]}"
+                    class="oe_link" groups="product.group_costing_method"/>
+            </field>
+        </field>
+    </record>
+</data>
+</openerp>
diff --git a/stock_lot_valuation/wizard/stock_change_standard_price.py b/stock_lot_valuation/wizard/stock_change_standard_price.py
new file mode 100644
index 000000000..9878fd7ab
--- /dev/null
+++ b/stock_lot_valuation/wizard/stock_change_standard_price.py
@@ -0,0 +1,96 @@
+# -*- coding: utf-8 -*-
+##############################################################################
+#
+#    OpenERP, Open Source Management Solution
+#    Copyright (C) 2004-2010 Tiny SPRL (<http://tiny.be>).
+#
+#    This program is free software: you can redistribute it and/or modify
+#    it under the terms of the GNU Affero General Public License as
+#    published by the Free Software Foundation, either version 3 of the
+#    License, or (at your option) any later version.
+#
+#    This program is distributed in the hope that it will be useful,
+#    but WITHOUT ANY WARRANTY; without even the implied warranty of
+#    MERCHANTABILITY or FITNESS FOR A PARTICULAR PURPOSE.  See the
+#    GNU Affero General Public License for more details.
+#
+#    You should have received a copy of the GNU Affero General Public License
+#    along with this program.  If not, see <http://www.gnu.org/licenses/>.
+#
+##############################################################################
+
+from openerp.osv import fields, orm
+from openerp.tools.translate import _
+import openerp.addons.decimal_precision as dp
+
+class change_standard_price(orm.TransientModel):
+    _name = "lot.change.standard.price"
+    _description = "Change Standard Price"
+    _columns = {
+        'new_price': fields.float('Price', required=True, digits_compute=dp.get_precision('Account'),
+                                  help="If cost price is increased, stock variation account will be debited "
+                                        "and stock output account will be credited with the value = (difference of amount * quantity available).\n"
+                                        "If cost price is decreased, stock variation account will be creadited and stock input account will be debited."),
+        'stock_account_input':fields.many2one('account.account', 'Stock Input Account'),
+        'stock_account_output':fields.many2one('account.account', 'Stock Output Account'),
+        'stock_journal':fields.many2one('account.journal', 'Stock journal', required=True),
+        'enable_stock_in_out_acc':fields.boolean('Enable Related Account',),
+    }
+
+    def default_get(self, cr, uid, fields, context=None):
+        """ To get default values for the object.
+         @param self: The object pointer.
+         @param cr: A database cursor
+         @param uid: ID of the user currently logged in
+         @param fields: List of fields for which we want default values
+         @param context: A standard dictionary
+         @return: A dictionary which of fields with values.
+        """
+        if context is None:
+            context = {}
+        lot_pool = self.pool.get('stock.production.lot')
+        product_pool = self.pool.get('product.product')
+        lot_obj = lot_pool.browse(cr, uid, context.get('active_id', False))
+        res = super(change_standard_price, self).default_get(cr, uid, fields, context=context)
+
+        accounts = product_pool.get_product_accounts(cr, uid, lot_obj.product_id.id, context={})
+
+        price = lot_obj.standard_price
+
+        if 'new_price' in fields:
+            res.update({'new_price': price})
+        if 'stock_account_input' in fields:
+            res.update({'stock_account_input': accounts['stock_account_input']})
+        if 'stock_account_output' in fields:
+            res.update({'stock_account_output': accounts['stock_account_output']})
+        if 'stock_journal' in fields:
+            res.update({'stock_journal': accounts['stock_journal']})
+        if 'enable_stock_in_out_acc' in fields:
+            res.update({'enable_stock_in_out_acc': True})
+
+        return res
+
+    def change_price(self, cr, uid, ids, context=None):
+        """ Changes the Standard Price of Product.
+            And creates an account move accordingly.
+        @param self: The object pointer.
+        @param cr: A database cursor
+        @param uid: ID of the user currently logged in
+        @param ids: List of IDs selected
+        @param context: A standard dictionary
+        @return:
+        """
+        if context is None:
+            context = {}
+        rec_id = context and context.get('active_id', False)
+        assert rec_id, _('Active ID is not set in Context.')
+        lot_pool = self.pool.get('stock.production.lot')
+        res = self.browse(cr, uid, ids, context=context)
+        datas = {
+            'new_price' : res[0].new_price,
+            'stock_output_account' : res[0].stock_account_output.id,
+            'stock_input_account' : res[0].stock_account_input.id,
+            'stock_journal' : res[0].stock_journal.id
+        }
+        lot_pool.do_change_standard_price(cr, uid, [rec_id], datas, context)
+        return {'type': 'ir.actions.act_window_close'}
diff --git a/stock_lot_valuation/wizard/stock_change_standard_price_view.xml b/stock_lot_valuation/wizard/stock_change_standard_price_view.xml
new file mode 100644
index 000000000..590b39448
--- /dev/null
+++ b/stock_lot_valuation/wizard/stock_change_standard_price_view.xml
@@ -0,0 +1,34 @@
+<?xml version="1.0" encoding="utf-8"?>
+<openerp>
+    <data>
+        <record id="view_change_standard_price" model="ir.ui.view">
+            <field name="name">Change Standard Price</field>
+            <field name="model">lot.change.standard.price</field>
+            <field name="arch" type="xml">
+              <form string="Change Standard Price" version="7.0">
+                  <separator string="Change Price"/>
+                  <group>
+                      <field name="new_price" string="Cost Price"/>
+                  </group>
+                  <footer>
+                      <button name="change_price" string="_Apply" type="object" class="oe_highlight"/>
+                      or
+                      <button string="Cancel" class="oe_link" special="cancel" />
+                  </footer>
+              </form>
+            </field>
+        </record>
+
+        <record id="action_view_change_standard_price" model="ir.actions.act_window">
+            <field name="name">Change Standard Price</field>
+            <field name="type">ir.actions.act_window</field>
+            <field name="res_model">lot.change.standard.price</field>
+            <field name="view_type">form</field>
+            <field name="view_mode">form</field>
+            <field name="view_id" ref="view_change_standard_price"/>
+            <field name="target">new</field>
+        </record>
+
+    </data>
+</openerp>
+