Incompatibility in price control (matl price determination <-> matl type)

What causes this issue?

You want to create accounting data for a material for which material
ledger valuation is active and for which the material price
determination is 3 (single-level/multilevel). Only the
<DS:GLOS.3526C031AFAB52B9E10000009B38F974>price control</> <LS>S</>
(standard price) is allowed for materials of this kind. However, your
system has been configured such that only the price control <LS>V</>
(moving average price/periodic unit price) is allowed for materials of
this material type.

System Response

The system issues an error message and will not allow you to continue with this transaction until the error is resolved.

How to fix this error?

Choose one of the following options:
Choose a material type that allows the price control <LS>S</>.
Ask your system administrator to configure the present material type so
that price control <LS>S</> is allowed.

Procedure for System Administrators

Material types are configured in Customizing for the <LS>Material
Master</> in <DS:SIMG.SIMG_CFMENUOLMSOMS2>Define Attributes of Material
Types</>.

Error message extract from SAP system. Copyright SAP SE.