How to manage item price in database

Question

I have two table in my application, one is "item" and "itemprice" and these are already created by a previous developer. The itemprice table contain fields like, unitOfSale , itemPoint, itemSalePrice and itemPurchasePrice, tax. There are some fields those are duplicate in item and itmPrice table.

 

Can i merge itemPrice table in item table. will it do any negative imapact on architecture,

 

Do I need to keep the history of itemprice when it changes?

 

If I need to keep history of price then which architecture should i follow ? one table (merged table) or two table?