Hi

I am looking for the terms meaning/ defination for

Simulated purchase price
Current purchase price
Average purchase price
Latest purchase price

and where we store them while creating an order.

Thanks in advance for reply me on the same.
:)

First you can read this thread:
http://www.baanboard.com/baanboard/showthread.php?t=27187&highlight=purchase+price

Then, if you got online help installed on your system, you can read the help about every field or about the sessions.
If you have any further question you can ask here again :)

Calculation of Standard Cost Price for Purchase Items will be controlled by the Use of the Cost Price Calculation Code (Session ticpr1101m000). The Purchase Price which is first considered for calculating the cost price of a purchase part. If this purchae price has not been entered, the system will take the purchase price with the next priority.

Si (Simulated Purch. Pr.) You can record the simulated purchase price with the session Maintain Simulated Purchase Prices (ticpr1170m000).
Cp (Current Purch. Price) The current purchase can be recorded by item with the session Maintain Item Data (tiitm0101m000).
Ap (Average Purch. Price) The average purchase price is automatically computed by the system on the basis of the actual purchase receipts. You can display the average purchase price via the session "Maintain Item Data (tiitm0101m000)".
LP (Latest Purch. Price) The latest purchase price is automatically calculated on the basis of the actual purchase receipts. This price can be displayed via the session. "Maintain Item Data (tiitm0101m000)".

You can also have Surcharges by Item for Things like Freight that get added to Standard Cost.