item price AX 2012 R3

After we activated the Item price in R3, noticed that the cost price and purchase price are input incorrectly. ALso notiices that even though the date was set 1/1/2014, the activation date refers to today’s date (3/3/2015!). How can we rectify. we need to set the active price (back date to 2014). we didn’t input any transactions as yet. Wondering if anyone could suggest. i can create a new cost version (but because we need to input 2014 transactions).

Also bit confused with cost vs purchase price. as we buy/sell items, could cost price equal purchase price (or is cost price to include purchase + cost to maintain in inventory etc.,)

even though the activation date is today, but it looks like the date it should be active set to 2014. So we added another cost price record with latest date. it worked where PO lines reflect the latest cost price. Std costing method used. but would still like to know if there would be a way to delete 'active price sheet" - looks like we can’t

You cannot delete the active price sheet, and the activation date is the date you activate it, not the date you enter - but it is an activation date - not a date from.