diff --git a/erpnext/assets/doctype/asset_capitalization/test_asset_capitalization.py b/erpnext/assets/doctype/asset_capitalization/test_asset_capitalization.py
index 933e38098d2..fec8a7c0053 100644
--- a/erpnext/assets/doctype/asset_capitalization/test_asset_capitalization.py
+++ b/erpnext/assets/doctype/asset_capitalization/test_asset_capitalization.py
@@ -397,6 +397,33 @@ class TestAssetCapitalization(ERPNextTestSuite):
 		actual_gle = get_actual_gle_dict(asset_capitalization.name)
 		self.assertEqual(actual_gle, {})
 
+	def test_grouped_stock_item_rows_split_fifo_rate(self):
+		from erpnext.stock.doctype.warehouse.test_warehouse import create_warehouse
+
+		company = "_Test Company"
+		warehouse = create_warehouse("_Test Warehouse for Grouped FIFO Rows", company=company)
+		item = create_item(
+			"_Test Grouped FIFO Rows Item", is_stock_item=1, is_fixed_asset=0, is_purchase_item=1
+		)
+		target_item = create_fixed_asset_item("_Test Grouped FIFO Rows Target Item")
+
+		make_purchase_receipt(item_code=item.item_code, qty=1, rate=100, company=company, warehouse=warehouse)
+		make_purchase_receipt(item_code=item.item_code, qty=1, rate=200, company=company, warehouse=warehouse)
+
+		asset_capitalization = frappe.new_doc("Asset Capitalization")
+		asset_capitalization.company = company
+		asset_capitalization.target_item_code = target_item.name
+		asset_capitalization.append(
+			"stock_items", {"item_code": item.item_code, "warehouse": warehouse, "stock_qty": 1}
+		)
+		asset_capitalization.append(
+			"stock_items", {"item_code": item.item_code, "warehouse": warehouse, "stock_qty": 1}
+		)
+		asset_capitalization.insert()
+
+		rates = [d.valuation_rate for d in asset_capitalization.stock_items]
+		self.assertEqual(rates, [100, 200])
+
 
 def create_asset_capitalization_data():
 	create_item("Capitalization Target Stock Item", is_stock_item=1, is_fixed_asset=0, is_purchase_item=0)