In a Switch Mode Power Supply (SMPS) the majority of any power losses that occur are in the form of switching and magnetic losses. Magnetic loss occurs from the core and the windings in the storage/coupled Inductor. Determination of inductor power loss accurately has become more important to design reliable and efficient systems, especially in the era of green technology. Estimation of core losses in SMPS can require complex measurement set-ups, yet cannot be guaranteed whether the estimation is relevant to the particular application. Historically, core losses are calculated using Steinmetz equation and recently with the extension of Steinmetz equations. These equations can estimate losses reliably only for certain conditions or materials.