What is basic purchase price in SAP IS-R - SAP for Retail?

SAP Term: basic purchase price

• Component: IS-R

• Component Name: SAP for Retail

• Description: Retail Gross purchase price used in the calculation of purchase prices. Purchase price conditions are calculated on the basis of the purchase price.

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• Key Concepts: 
  Basic purchase price is a term used in the IS-R SAP for Retail component. It is the price of a product that is paid by the retailer to the supplier. This price does not include any additional costs such as taxes, shipping, or handling fees. 
  
  How to use it: 
  The basic purchase price is used to calculate the total cost of a product for the retailer. This includes any additional costs such as taxes, shipping, or handling fees. The total cost of the product is then used to determine the selling price of the product. 
  
  Tips & Tricks: 
  It is important to keep track of the basic purchase price for each product in order to accurately calculate the total cost and selling price. Additionally, it is important to keep track of any changes in the basic purchase price in order to ensure that the total cost and selling price are up-to-date. 
  
  Related Information: 
  The basic purchase price is related to other terms such as cost of goods sold (COGS), gross margin, and markup. COGS is the total cost of a product including any additional costs such as taxes, shipping, or handling fees. Gross margin is the difference between the selling price and COGS. Markup is the percentage increase from COGS to selling price.