First, you shouldn't put a calculated value into a table.
What you should do is remove Extende_Price and calculate it in a query, then use that query wherever you need it.
To do it your way - to update any field, use something like the below for your query.
UPDATE tblName SET Extende_Price=Item_Cost*Item_Quantity;
To do it my way.
SELECT Item_Cost, Item_Quantity, [Item_Cost]*[Item_Quantity] As Extended_Price FROM tblName;
To drop in both - here's the cliff-notes.
Go to queries - hit new. Select Design. Close the table pop-up window.
On the blue bar at the top of the query display, right click it and select SQL View. Paste in the above text. If the field names match exactly the above will work.
You can change it back to design view (right click blue-bar at top) and select Query View to see what it looks like in QBE (Query by Example)
Mike