diff --git a/erpnext/accounts/doctype/purchase_invoice/purchase_invoice.py b/erpnext/accounts/doctype/purchase_invoice/purchase_invoice.py
index 57bc0a77213..e6a46d0676b 100644
--- a/erpnext/accounts/doctype/purchase_invoice/purchase_invoice.py
+++ b/erpnext/accounts/doctype/purchase_invoice/purchase_invoice.py
@@ -249,8 +249,9 @@ class PurchaseInvoice(BuyingController):
 
 	def validate_warehouse(self, for_validate=True):
 		if self.update_stock and for_validate:
+			stock_items = self.get_stock_items()
 			for d in self.get("items"):
-				if not d.warehouse:
+				if not d.warehouse and d.item_code in stock_items:
 					frappe.throw(
 						_(
 							"Row No {0}: Warehouse is required. Please set a Default Warehouse for Item {1} and Company {2}"
diff --git a/erpnext/assets/doctype/asset/test_asset.py b/erpnext/assets/doctype/asset/test_asset.py
index f681b3480c2..e759ad0719b 100644
--- a/erpnext/assets/doctype/asset/test_asset.py
+++ b/erpnext/assets/doctype/asset/test_asset.py
@@ -68,7 +68,7 @@ class TestAsset(AssetSetup):
 	def test_item_exists(self):
 		asset = create_asset(item_code="MacBook", do_not_save=1)
 
-		self.assertRaises(frappe.DoesNotExistError, asset.save)
+		self.assertRaises(frappe.ValidationError, asset.save)
 
 	def test_validate_item(self):
 		asset = create_asset(item_code="MacBook Pro", do_not_save=1)
diff --git a/erpnext/controllers/accounts_controller.py b/erpnext/controllers/accounts_controller.py
index 72ac1b37ef6..3a20d3f232f 100644
--- a/erpnext/controllers/accounts_controller.py
+++ b/erpnext/controllers/accounts_controller.py
@@ -1267,17 +1267,9 @@ class AccountsController(TransactionBase):
 		stock_items = []
 		item_codes = list(set(item.item_code for item in self.get("items")))
 		if item_codes:
-			stock_items = [
-				r[0]
-				for r in frappe.db.sql(
-					"""
-				select name from `tabItem`
-				where name in (%s) and is_stock_item=1
-			"""
-					% (", ".join(["%s"] * len(item_codes)),),
-					item_codes,
-				)
-			]
+			stock_items = frappe.db.get_values(
+				"Item", {"name": ["in", item_codes], "is_stock_item": 1}, pluck="name", cache=True
+			)
 
 		return stock_items