Step 1
Take a full inventory of goods available for sale to customers.
Step 2
Determine the expected selling price of each item. If you owned a shoe store, for example, and you had a pair of shoes that you believed you could sell for $40, then that would be the expected selling price. If the shoes had a list price of $40 but you believe you'd have to discount them to $30 to sell, that would be the expected price.