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11 Inventory Control Fast Fixes to Improve Your Bottom Line

Posted by Chris Valponi, CPA on Aug 15, 2017 3:03:43 PM

For many companies, keeping close tabs on revenue, expenses, and profit is the number one priority. However, companies that carry inventory may not realize its direct effect on profitability.  This effect is known as shrinkage.  Shrinkage is the excess amount of inventory (in accounting records) that no longer exists in the actual inventory. In other words, it is a loss of inventory. There are several causes of shrinkage, such as:

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Topics: Audit and Assurance Department, fraud, Chris Valponi, internal control

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