The given statement is false as, the margin on price as percentage is the expression of gross profit, which is added to arrive at your retail price.
Gross profit represents the amount of money a company earns after deducting costs for manufacturing, delivering, and selling its goods or services. A company's income statement will display gross profit, which is determined by deducting the cost of goods sold (COGS) with revenues (sales). The income statement of a business will contain these numbers. Gross profit could also be made reference to as profit made or annual profit.
Gross profit evaluates how effectively a business uses its labor force and resources to create goods and services. The metric predominantly examines variable costs, or expenses that change according on the output volume.
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