I have tested GP 2013 without mfg. NEW in 2013 is a utility to modify the standard cost of items. It not only updates the standard cost but also creates the needed GL transactions to keep everything in balance.
Prior to version 2013, updating standard costs without manufacturing was extremely difficult. You needed to manually calculate the standards, make sure your current stock status balanced to GL, push the new costs into inventory with SQL updates, re-calculate the stock values, then manually create a transaction in GL to adjust the values. And if you had more than one Inventory Asset account........oh my.
And, as of this date, Landed Costs do not affect standard cost unless you manually add them to the revaluation amounts.