Keep in mind that list prices are often significantly higher than what you will be able to negotiate for your specific needs. There are also requirements where some licensed products have dependencies on licensing other products. Custom suite licensing is often negotiated to come up with a cost-effective deal. As Schojo44 pointed out you will need to discuss with Oracle (or an Oracle partner who does JDE license sales)
You have the general idea, though in your above example the connected device licensing serves a different purpose than application user licensing. You also need system foundation and core tools and technology for each user. There are also considerations if you are taking your existing licenses (for 8.12?) and trying to add additional modules or users. If you have legacy pricing for older licenses there is then a whole discussion of preserving that pricing for maintenance purposes (if you have been out of maintenance) and not triggering a reprice for your existing users when you try to add modules or blocks of users.
I would not use the price list numbers if you are trying to put something together for your management. You really need to talk to Oracle Sales or a partner to get pricing for your specific circumstances. Guaranteed the first thing they will do is try to sell you stuff you haven't asked for and Cloud, Cloud and more Cloud. Stay strong and be clear on what you need and want to focus them on working a license deal for that.
This is all a negotiation with Oracle or as I call them "the Software Mafia". Good luck!