This document discusses methods for estimating inventory levels. It introduces the gross profit method, which estimates inventory by working backwards from actual gross profit to calculate an estimated cost of goods sold and ending inventory. It continues explaining the gross profit method over multiple slides. The final slide provides a term review that reinforces the gross profit method of estimating inventory levels.

1. LESSON 19-3
Estimating Inventory
CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning

2. GROSS PROFIT METHOD OF
ESTIMATING INVENTORY
2
page 574
(continued on next slide)
LESSON 19-3
CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning

3. GROSS PROFIT METHOD OF
ESTIMATING INVENTORY
3
page 574
(continued from previous slide)
LESSON 19-3
CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning

4. 4
TERM REVIEW
page 576
 gross profit method of estimating inventory
CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
LESSON 19-3