A typical cost ratio expresses the cost as a percent of the total dollar purchase from that supplier.

Name: A typical cost ratio expresses the cost as a percent of the total dollar purchase from that supplier.
Brand: Quizplus
Rating: 4.9 (34 reviews)

Question

Quizplus · Accepted Answer

A typical cost ratio expresses the cost as a percentage of the total purchase from a supplier. For example, if a business purchased $1,000 worth of goods from a supplier and paid $100 in costs, the cost ratio would be 10% ($100/$1,000).

A Typical Cost Ratio Expresses the Cost as a Percent