A SKU's base price is the value which results from merging the Cost Price with the Markup, the desired profit margin with the SKU's sale. It represents the SKU's reference price for all price tables.

This base price can be combined with a price table's applied price rule. If there are no registered price rules, a price table's selling price will be equal to the base price itself.

The list price functions as a SKU's suggested selling price. Later on, this price can receive a reduction, allowing you to showcase a SKU with the following information in the store's window display:

Thus, the list price is the original price and the selling price is the sales price.

As previously mentioned, the base price is the reference price for all your store's price tables.

In the article on the Prices module architecture, we saw that if you only add a SKU base price without configuring other rules or fixed prices, that base price value will be considered the computed price for your price tables.

If your strategy does not entail having different prices for different contexts, you just have to add one base price for your SKUs.