Product Cost in Odoo not updated with Price Change - odoo

The summary is that my Product cost in the general information tab is different from my Price in the Purchase tab. Whenever we have a price update for a product, it doesnt get updated in the product cost in the general information tab and this is causing a negative P&L
The details of my issue is as follows
when i got into my Inventory module and check my Product general information for a particular product and I find that the product cost is say 295, which is the price i purchased the product the last time from the supplier. However when I go into my Purchase tab and check the purchase price from the vendor I find that my purchase price is 95 and different from the product cost price defined earlier. This seems to be causing an issue in my P/L report as I am getting a negative P/L.
The business case is that the product price changes anytime we buy to replenish inventory, and the new price is entered which is what we get in the Purchase price tab, but it doesnt update the cost price in the general information tab

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