How is cost allocated for consignment item ?

Hi Gurus,
How is cost allocated for consignment item ? Is it based on inforecord price ? Or is it based on the split valuation price ?
Detailed and answers appretiated. Points will be rewarded suitably.
Thanks,
Anil

Hi All,
Thanks for your help. I will award points.
Another question>>>>We want to move consignment material to other location. Now this can be - a plant few miles away or another country.
Material price in this case will be inforrecord price or price in material master MAP.???
Thanks,
Anil

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