@Thief^ said:
But that would imply that their without VAT price is €1,027. Who puts prices accurate to thousandths of a euro?
Typically, you put them to more decimal places than that.
In eCommerce applications, you typically store all of your prices NET of VAT. Unfortunately, customers typically want to have prices displayed in the ilk of £9.99 or £17.50, rather than £14.22 or £7.78, so you store a highly accurate net price.
It'd be perfectly possible to store a gross price, however if you're shipping to a different EU country, depending on how much you export, your rate of VAT then varies (you end up charging VAT at the rate of the country you're shipping to), and the last thing you want to be doing is going from UK Gross to NET to French Gross, or something daft like that.
So yeah. Prices are stored to many decimal places.