Restock item price went up

[Thecraftboxllc]

I am new to retail. I am entering items in square and had a few questions. 

If I have an item, lets say a dog sticker, and it costs me $1 and I sell it for $2, this is trackable in the free square software right? Like I can enter both my cost and my sale price?

If I'm down to 5 dog stickers and decide to reorder, what do I do if my wholesale price goes up? Now the dog sticker costs $1.50 and I want to sell it for $2.50. Do I need to create a different item entirely or am I able to set different prices for the same item?

Ex, the remaining 5 stickers will show up as $2 and the restock amount will show up as $2.50.

I hope this makes sense. Our business will be selling a low amount of items to start, like 15-20 so I don't want to pay for software to track inventory yet but also want to see what sells fast and the profit made.

Thank you!

[Candlestore]

@Thecraftboxllc ;

If the Price goes from $1 to $2 for your cost you can Change this, and you can also change the selling price.  The only thing is you will not have a running count of inventory that cost $1 and a count of inventory that you pay $2 for.   This would have to be tracked in an accounting software program.    The free version of Square Pos will track what items you have in stock and how many sell.  You just need to have the items entered in your Square catalog and selected at the time of a sale.  If the items have barcodes you can use a scanner for the items too to put the item and its unique sku int the sale.  SKU's can be a set of letters and numbers upto I believe 40 characters, but that is alot to remeber or to type in on a cell phone at the time of sale.  I know you can use the Camera on an Ipad if you have that for no xtra cost.  

Price is your selling Price

Unit Cost is your cost

SKU is a random alpha / numeric code   this can be turned into a barcode with free software for tracking inventory

I have both android cell and tablets, but like the square software on an Ipad better.

Hope this all helps