diff --git a/addons/stock_account/__init__.py b/addons/stock_account/__init__.py
index 4e87ff34a07..976965cb89f 100644
--- a/addons/stock_account/__init__.py
+++ b/addons/stock_account/__init__.py
@@ -20,6 +20,7 @@
 ##############################################################################
 
 import product
+import standard_prices
 import stock_account
 import wizard
 
diff --git a/addons/stock_account/product.py b/addons/stock_account/product.py
index ed19dca2b43..30284bbf091 100644
--- a/addons/stock_account/product.py
+++ b/addons/stock_account/product.py
@@ -166,6 +166,36 @@ class product_product(osv.osv):
 
         return move_ids
 
+    def write(self, cr, uid, ids, values, context=None):
+        standard_prices = self.pool['standard.prices']
+        for record in self.browse(cr, uid, ids, context=context):
+            if record.cost_method == 'standard':
+                data = {
+                    'company_id': False,
+                    'quant_id': False,
+                    'product_id': False,
+                    'cost': False,
+                    'date': False,
+                    'reason': False,
+                }
+                standard_prices.create(cr, uid, data, context=context)
+            elif record.cost_method == 'average':
+                data = {
+                    'company_id': False,
+                    'quant_id': False,
+                    'product_id': False,
+                    'cost': False,
+                    'date': False,
+                    'reason': False,
+                }
+                standard_prices.create(cr, uid, data, context=context)
+            elif record.cost_method == 'real':
+                # For a 'real' cost_method, entries in standard_prices are
+                # created when quants are created.
+                pass
+        return super(product_product, self).write(cr, uid, ids, values,
+            context=context)
+
     _columns = {
         'valuation':fields.property(type='selection', selection=[('manual_periodic', 'Periodical (manual)'),
                                         ('real_time','Real Time (automated)'),], string = 'Inventory Valuation',
diff --git a/addons/stock_account/standard_prices.py b/addons/stock_account/standard_prices.py
new file mode 100644
index 00000000000..63f6a2ecae2
--- /dev/null
+++ b/addons/stock_account/standard_prices.py
@@ -0,0 +1,24 @@
+"""
+Keep track of the ``product.product`` standard prices as they are changed.
+
+The ``standard.prices`` model records each ``standard`` or ``average``
+``cost_method`` change. For the ``real`` ``cost_method`` it records every
+wuants creation.
+
+"""
+
+import openerp
+
+class standard_prices(openerp.osv.orm.Model):
+
+    _name = 'standard.prices'
+
+    _columns = {
+        'company_id': openerp.osv.fields.many2one('res.company', required=True),
+        'quant_id': openerp.osv.fields.many2one('stock.quant'),
+        'product_id': openerp.osv.fields.many2one('product.product'),
+        'cost': openerp.osv.fields.float(),
+        'date': openerp.osv.fields.date(),
+        'reason': openerp.osv.fields.char(),
+        # TODO 'origin': openerp.osv.fields.reference(),
+    }