I’m not going to go into a lot of detail about calculating sales price at various profit margins, as the rationale is discussed in greater detail in my prep course.

To calculate the sales price according to standard accounting principles, (1) start with 100%, (2) deduct the profit you wish to obtain (3) divide your cost by the resulting percent

                1.00 – .30 = .70,      $1000/.70 = $1428.57 sales price

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