Will the system automatically update the cost of the final product based on the raw materials used?

No, the system will not automatically update the cost of the final product based on the raw materials used. You need to manually enter the selling price of the final product as per your requirement. The prices and quantities entered while grouping raw materials are only used to determine the production cost and available stock quantity. Keeping track of these costs helps in accurate pricing, profitability analysis, and inventory management.