Adding an E-Commerce Store:
Drag and drop "commerce" from the add toolbar to where you would like the "shopping cart" to be on your site.

Choose a "shopping cart" composition

On the right-side toolbar, select "payment gateways" and choose the payment gateways you would like to enable. Some of these gateways will require some configuration. Typically you will need to copy a code from your account with the gateway and paste it into the relevant box. When you are done, click "apply".
Go back to the add menu, drag and drop "commerce" where you would like your "store" to appear on your site. Choose the "store" composition.
From the right toolbar, select "edit products".

Add your item name, description, price, photos, SKU, weight, and other relevant information. You can also create "categories" to make your store easier to sort and search.
Variation Options:
"item type" is used to designate specific variations for specific items. Items may vary in options such as sizing, color, amounts, etc. Click the pencil next to the "item type" to edit the types and variation options.

In this example, "candles" can vary in their odor, color, and country of origin. Click the pencil icon next to one of the options to edit the list associated with it.

This example gives a "dropdown" type option and has the choices between "orange", "romantic flowers", and "lemon". You can choose to have an "empty" option or not (in this case, no odor).
Tax:
From the right toolbar, select "tax rules"

You can choose to apply tax to all shipping locations (world), or configure the taxes for specific locations by selecting the pencil icon next to "world".
Tax can be applied to all items in your store or to specific item types. You can also choose to apply tax to shipping costs or not.