One thing that you need to keep in mind is that updating the product price on the website will not take effect if you use an a third party software such as QuickBooks or SAP Business One. Those changes must be done in that software.
From the Dashboard click on the products tab found on the menu found on the left side of the screen.
To select the product that you need to modify, click on the product name to bring up the product details.
To change the product details click on EDIT on the top right.
From this screen you can modify the Cost of the item and the selling price. Be sure to click on save to keep all of your changes done to the product.
To view the current price lists, click on on Price List on the top right.
First, you must select the price list you want to edit by clicking on the price list.
To edit the product price click on PRICE and enter the new value. Then, click on the check mark to save your changes to that product. Be sure to click on save on the top right.