Term Definition
Book Value The amount of money inventory is shown to be worth in the business’s records.
Shrinkage The term used to describe inventory losses resulting from shoplifting, employee theft, inaccurate paperwork, damaged or misplaced merchandise, and vendor error.
Employee Theft The unauthorized taking of merchandise by an employee from an employer.
Physical Inventory A count and inspection of all the merchandise in a store
Shoplifting The removal of items from a store with the intention of not paying for them.
Secure and Risk Mang

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