Hello robtomorrow.
1.) Am I correct in understanding that only price and inventory are synchronized?
When a sale takes place a few things are updated like, title, price, quantity, product id, etc. But, no, everything is synced when you list an item from Woocommerce to Amazon as well as anytime you update a listing in Woocommerce: Inventory Sync
2.) When we first enable sync and there is a difference between what our woocommerce site is showing for inventory and/or price, which value does it default to? The value on Amazon or the value on our site?
Website. Woocommerce is always the “central database” as explained in the link above. But with sync enabled everything doesn’t just sync on it’s own. You would need to correct the stock for the WC products if necessary then update the listing which will have WP-Lister send a new feed to Amazon to update the stock on Amazon.
3.) Am I correct is understanding that when a purchase is made on Amazon, inventory is updated on our site and visa versa? It works both ways, correct?
Yes
4.) If we update inventory manually to account for sales we have made at non-web based venues, trade shows for example, or just a correction due to a recount, on Amazon will it update our woocommerce site automatically? and visa versa?
No, you must update from Woocommerce which will then update Amazon automatically. Unless you choose to enable the “process a daily inventory report” setting which is explained in the link above.
5.) The same question as above regarding prices.</em?
It is the same answers as it was in regards to inventory.
6.) Am I correct in understanding that both regular prices and sales prices are synchronized?
Yes, but if a sale price is entered into Woocommerce for a specific product, that price is used by default on Amazon. But you can control the sale prices behavior: Sale Prices
Kind regards,
John