Yes, you can set the following types of prices.
1. MRP
2. Purchase Price
3. Landing Price
4. Selling Price
5. Whole Sale Price
6. Retailer Price.
Steps to set different prices:
1. Goto Master > Item > select Item
2. Item view is displayed, then to create new Item Click on the New button present on the top left of the corner.
3. Then one new frame is open in that frame you can fill all the item details and you can see all the above price fields in which you can set different Rates.
4. For Selling price, Retailer price, and wholesale price you can also set a percent discount on MRP or you can also enter new Price.