Item Maintenance --> Valuation Method FIFO Perpetual , Standard Cost

Thank you Frank.. You have advised that ..

-->By definition, the perpetual valuation methods are Actual Cost in GP.  Standard    Cost in GP is one of the 'Periodic' valuation methods.

I would like to have further advise regarding this matter.. & rephrase my first question:

---> We would like to apply "Standard Costing" to valuate the Inventory$ &  using "Standard Costing" to transact the Manufacturing process, starting from

Buying, receiving Raw Material --> to  issue Raw Material to Production ---> then Manufacturing Receipt Finished Products

For using "Standard Costing",  when setting up Item Maintenance in Great Plain,

we should "Click" --> Periodic Valuation Method

or

we should "Click" --> Perpetual Valuation Method.

in order to set up the Great Plain correct for using "Standard Costing"  method in our operation..

Thank you very much in advance for your advise.