diff --git a/erpnext/stock/doctype/landed_cost_item/landed_cost_item.json b/erpnext/stock/doctype/landed_cost_item/landed_cost_item.json
index c5887d4..3b77d0f 100644
--- a/erpnext/stock/doctype/landed_cost_item/landed_cost_item.json
+++ b/erpnext/stock/doctype/landed_cost_item/landed_cost_item.json
@@ -37,15 +37,6 @@
    "read_only": 1
   }, 
   {
-   "fieldname": "warehouse", 
-   "fieldtype": "Link", 
-   "hidden": 0, 
-   "label": "Warehouse", 
-   "options": "Warehouse", 
-   "permlevel": 0, 
-   "read_only": 1
-  }, 
-  {
    "fieldname": "col_break2", 
    "fieldtype": "Column Break", 
    "permlevel": 0
@@ -53,6 +44,7 @@
   {
    "fieldname": "qty", 
    "fieldtype": "Float", 
+   "in_list_view": 1, 
    "label": "Qty", 
    "permlevel": 0, 
    "read_only": 1
@@ -60,6 +52,7 @@
   {
    "fieldname": "rate", 
    "fieldtype": "Currency", 
+   "in_list_view": 0, 
    "label": "Rate", 
    "permlevel": 0, 
    "read_only": 1
@@ -77,27 +70,23 @@
    "reqd": 1
   }, 
   {
-   "fieldname": "old_valuation_rate", 
+   "fieldname": "applicable_charges", 
    "fieldtype": "Currency", 
    "in_list_view": 1, 
-   "label": "Old Valuation Rate", 
+   "label": "Applicable Charges", 
    "permlevel": 0, 
-   "read_only": 1, 
-   "width": ""
+   "read_only": 1
   }, 
   {
-   "fieldname": "new_valuation_rate", 
-   "fieldtype": "Currency", 
-   "in_list_view": 1, 
-   "label": "New Valuation Rate", 
-   "permlevel": 0, 
-   "read_only": 1, 
-   "width": ""
+   "fieldname": "pr_item_row_id", 
+   "fieldtype": "Data", 
+   "label": "PR Item Row Id", 
+   "permlevel": 0
   }
  ], 
  "idx": 1, 
  "istable": 1, 
- "modified": "2014-07-11 15:20:53.714633", 
+ "modified": "2014-07-15 18:01:26.152422", 
  "modified_by": "Administrator", 
  "module": "Stock", 
  "name": "Landed Cost Item", 
diff --git a/erpnext/stock/doctype/landed_cost_voucher/landed_cost_voucher.js b/erpnext/stock/doctype/landed_cost_voucher/landed_cost_voucher.js
index 47ba0e1..207b12b 100644
--- a/erpnext/stock/doctype/landed_cost_voucher/landed_cost_voucher.js
+++ b/erpnext/stock/doctype/landed_cost_voucher/landed_cost_voucher.js
@@ -50,7 +50,7 @@
 	
 	amount: function() {
 		this.set_total_taxes_and_charges();
-		this.set_new_valuation_rate();
+		this.set_applicable_charges_for_item();
 	},
 	
 	set_total_taxes_and_charges: function() {
@@ -61,7 +61,7 @@
 		cur_frm.set_value("total_taxes_and_charges", total_taxes_and_charges);
 	},
 	
-	set_new_valuation_rate: function() {
+	set_applicable_charges_for_item: function() {
 		var me = this;
 		if(this.frm.doc.landed_cost_taxes_and_charges.length) {
 			var total_item_cost = 0.0;
@@ -70,8 +70,7 @@
 			});
 			
 			$.each(this.frm.doc.landed_cost_items, function(i, item) {
-				var charges_for_item = flt(item.amount) *  flt(me.frm.doc.total_taxes_and_charges) / flt(total_item_cost)
-				item.new_valuation_rate = flt(item.old_valuation_rate) + charges_for_item
+				item.applicable_charges = flt(item.amount) *  flt(me.frm.doc.total_taxes_and_charges) / flt(total_item_cost)
 			});
 			refresh_field("landed_cost_items");
 		}
diff --git a/erpnext/stock/doctype/landed_cost_voucher/landed_cost_voucher.py b/erpnext/stock/doctype/landed_cost_voucher/landed_cost_voucher.py
index 7ebdb0b..79e25b3 100644
--- a/erpnext/stock/doctype/landed_cost_voucher/landed_cost_voucher.py
+++ b/erpnext/stock/doctype/landed_cost_voucher/landed_cost_voucher.py
@@ -7,11 +7,15 @@
 from frappe.utils import flt
 from frappe.model.document import Document
 
+from erpnext.stock.utils import get_valuation_method
+from erpnext.stock.stock_ledger import get_previous_sle
+
 class LandedCostVoucher(Document):
 	def get_items_from_purchase_receipts(self):
 		self.set("landed_cost_items", [])
 		for pr in self.get("landed_cost_purchase_receipts"):
-			pr_items = frappe.db.sql("""select item_code, description, qty, rate, amount, valuation_rate, warehouse
+			pr_items = frappe.db.sql("""select pr_tem.item_code, pr_tem.description, 
+				pr_tem.qty, pr_tem.rate, pr_tem.amount, pr_tem.name
 				from `tabPurchase Receipt Item` where parent = %s""", pr.purchase_receipt, as_dict=True)
 			for d in pr_items:
 				item = self.append("landed_cost_items")
@@ -20,12 +24,12 @@
 				item.qty = d.qty
 				item.rate = d.rate
 				item.amount = d.amount
-				item.old_valuation_rate = d.valuation_rate
 				item.purchase_receipt = pr.purchase_receipt
-				item.warehouse = d.warehouse
+				item.pr_item_row_id = d.name
 				
-		if self.total_taxes_and_charges:
-			self.set_new_valuation_rate()
+		if self.get("landed_cost_taxes_and_charges"):
+			self.set_applicable_charges_for_item()
+				
 		
 	def validate(self):
 		self.check_mandatory()
@@ -34,7 +38,7 @@
 		if not self.get("landed_cost_items"):
 			self.get_items_from_purchase_receipts()
 		else:
-			self.set_new_valuation_rate()
+			self.set_applicable_charges_for_item()
 		
 	def check_mandatory(self):
 		if not self.get("landed_cost_purchase_receipts"):
@@ -55,29 +59,21 @@
 			if not item.purchase_receipt:
 				frappe.throw(_("Item must be added using 'Get Items from Purchase Receipts' button"))
 			elif item.purchase_receipt not in purchase_receipts:
-				frappe.throw(_("Item Row {0}: Purchase Reciept {1} does not exist in above 'Purchase Receipts' table")
+				frappe.throw(_("Item Row {0}: Purchase Receipt {1} does not exist in above 'Purchase Receipts' table")
 					.format(item.idx, item.purchase_receipt))
 	
 	def set_total_taxes_and_charges(self):
-		total_taxes_and_charges = 0.0
-		for d in self.get("landed_cost_taxes_and_charges"):
-			total_taxes_and_charges += flt(d.amount)
-			
-		self.total_taxes_and_charges = total_taxes_and_charges
+		self.total_taxes_and_charges = sum([flt(d.amount) for d in self.get("landed_cost_taxes_and_charges")])
 		
-	def set_new_valuation_rate(self):
+	def set_applicable_charges_for_item(self):
 		total_item_cost = sum([flt(d.amount) for d in self.get("landed_cost_items")])
 		
 		for item in self.get("landed_cost_items"):
-			charges_for_item = flt(item.amount) *  flt(self.total_taxes_and_charges) / flt(total_item_cost)
-			item.new_valuation_rate = flt(item.old_valuation_rate) + charges_for_item
+			item.applicable_charges = flt(item.amount) *  flt(self.total_taxes_and_charges) / flt(total_item_cost)
 		
 	def on_submit(self):
-		self.make_stock_ledger_entries()
-		self.make_gl_entries()
+		purchase_receipts = list(set([d.purchase_receipt for d in self.get("landed_cost_items")]))
 		
-	def make_stock_ledger_entries(self):
-		pass
-		
-	def make_gl_entries(self):
-		pass
\ No newline at end of file
+		for purchase_receipt in purchase_receipts:
+			pr = frappe.get_doc("Purchase Receipt", purchase_receipt)
+			
\ No newline at end of file