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The cost price (standard cost) is different from the 'Buy Price'; the Buy Price is a price used in the purchase invoice transaction, whereas the Cost Price is the average cost (standard cost) of an item.
By default, the CostPrice field is not in the item list. To have it in the item list, you need to add it from the Customise List View (under the Edit menu). You can add the CostPrice field from the Available Field Window (the left Window) but you may not able to change the value to 2 decimal places. Alternatively, you can add a Heading field and follow by adding the CostPrice field into the calculation box of the Heading field.
Then, change the alignment of the Heading field to 'decimal' to allow the value to show in the item list as 2 decimal places.
