Cost price?

The cost price is the amount of money that is paid to purchase a product or service. It is the price at which a business buys goods or services from a supplier before adding any markup or profit margin.

Cost price refers to the total cost incurred by a business to acquire goods or services for the purpose of resale or use in production. It includes the actual purchase price of the goods or services, as well as any additional costs such as shipping, handling, tariffs, and import duties. Understanding cost price is crucial for businesses to determine their profit margin and ensure profitability.