Thanks ReymondO.  So, the question is not being answered.  I know about the multiple entries option but it still has to be done with manually entering in the updated price.  

I will state the question a little different way:  Is the only way to UPDATE an existing list item price is to do it manually via "Add/Edit Multiple List Entries" or by opening each one to manually enter the price change? 

Seems like this would be a common thing to do for businesses that have many products available in the system.