Purchase price is what the employee time costs the company to provide the service. Hourly rate plus all costs to you for that employee.
Sales price is what you charge the customer for that employee time.
EX.
Company X buy material 1001 from Company Y.
SO I must maintain a Purchase contract of material 1001 of Company X, supplier is Company Y.
Meanwhile, I have to maintain a Sale Price list of material 1001 of Company Y, customer is Company X.
Chat with our AI personalities
A tax based on the price of goods and paid at the time of purchase is a sales tax.
Last purchased price current actual current sales price referent price, Ans: current sale price.
Suppose the purchase price of a dining room set is $650.If the sales tax is $58.50, what is the sales tax rate?
The ruling price at any time is the last recorded sales price .
Elastic demand means that a small change in price leads to a large change in quantity demanded. Inelastic demand means that a change in price has little impact on quantity demanded. Unit elastic demand means that the percentage change in price is equal to the percentage change in quantity demanded. For pricing and sales, elastic demand typically leads to lower prices and higher sales volume, as consumers are more sensitive to price changes. Inelastic demand allows for higher prices with less impact on sales volume, as consumers are less sensitive to price changes. Unit elastic demand falls in between, with price changes having a proportional impact on sales volume.