Question on "Estimated Landed Cost" - It provides a functionality to associate a landed cost template to an item. Is there a way I can change the value on PO? So if I setup a PO and assign a landed cost template with $5 , at the time can I change this to $5.50 or I have to create a new template?

I believe you will have to create a new template or edit your existing template You can’t make the change directly on the PO