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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.

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Q: What is the difference between sales price and purchase price?
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