Lists>Accounting>Revalue Standard Cost Inventory -- Failed: Invalid Item Reference key XXXX for subsidiary X

Problem:

Lists>Accounting>Revalue Standard Cost Inventory -- Failed:  Invalid Item Reference key XXXX for subsidiary X

Possible Solutions:

1.  Check the item record and ensure that item and subsidiary is in sync

2. Check if the item has been made inactive

3.  Check the item record for COGS Account, Asset Account and Income Account if it has been set appropriately