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is the cost of sales always equal to 100%?

Updated: 9/27/2023
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Tshiamo Oarabile SsM...

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4y ago

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yes

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Igsaan McCallum

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2y ago
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Q: Is the cost of sales always equal to 100%?
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What is a sales tax for an item that cost 140oo and has a sales tax rate of 7.5 percent?

If the sales tax would equal 140.00/100 X 7.5. This equals 10.50


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If you know the food cost against sales, it is 100*(food cost)/sales. If you do not know food cost or sales, you cannot know the answer.


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Sales can be calculated by using net income percentage because net income is always reported as a percentage of sales. For exmaple net income of 20 is a 20% of sales so sales will be as follows: 20% sales = net income Sales = Net income / 20 * 100 Sales = 20 /20 * 100 = 100 So Sales = 100


If cost is 3 and sales 6 then profit is how many percent?

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