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History for Estimated inventory (history as of 08/04/2014 15:07:33)

Estimated inventory is a method of counting physical inventory and used to calculate the total cash value of a store's inventory. First, a product is counted, then its value is determined by multiplying the quantity by its retail price. The estimated gross-profit margin is subtracted from the estimated inventory value figure and used to derive an estimate of the worth in dollars of items in a store.

  

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