8.11.1. Item List Price

To create or modify the List Price for an Item, select the "Item List Price" option. The following screen will appear:

Item List Price

Note

List Prices may also be created or modified in the Item master for an Item. Changes made to an Item's List Price in either location will be reflected application-wide.

When creating an Item List Price, you are presented with the following options:

Item Number: Enter the Item Number of the Item you want to create or modify a List Price for.
UOM: Inventory Unit of Measure.
List Price: Enter the List Price for the specified Item.
Price UOM: Displays the Price UOM for the specified Item.
Inv./Price Ratio: Displays the ratio between the Price and Inventory Units of Measure for the specified Item.
Inventory UOM Price: Displays the Inventory Unit of Measure Price for the Item.
Cost: Displays Standard Cost and Actual Cost for the specified Item.
Extended Cost: Displays the extended Standard Cost and extended Actual Cost for the Item. The extended Cost is equal to the List Price multiplied by the Price/Inventory UOM ratio. If the Price/Inv. Ratio = 1, then the Cost and Extended Cost will be the same.
Margin: Displays the profit margin. The margin is determined by the following formula: Price - Cost / Price.

To the far right of the screen, the following buttons are available:

CANCEL: Closes the screen, returning you to the previous screen.
SAVE: Creates the Item List Price.