The List Price field is generally used to store the Manufacturer's recommended retail price for the item.
Although this field is primarily intended for reference only, it is used to calculate initial discount amounts in the Sales Quote function. It may also be utilized as an alternate price level through the use of Price Tables.
When entering new Inventory database records, the default setting is for List Price to be equal to Base Price.
Inventory Database - Main Screen - Selling Prices
Inventory Database - Main Screen Fields