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Selling price = cost price + gross profit 580 = cost*(1 + 331/3%) = cost*4/3 So cost = 580*3/4 = 435
Profit = retail price - manufacturing cost
Selling price = Cost of goods sold + Gross profit percentage on sales
Cost = Selling Price - Gross Profit By using this formula or method easily we can get the selling price of the product
Selling Price times (1 - Gross Profit % as a decimal) So, if your selling price is $20 and your gross profit is 30%: 20 x (1 - .3) = 20 x .7 = $14