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In accounting, shrinkage or shrink occurs when a retailer has fewer items in stock than were expected by the inventory list. This can be caused by clerical error, or from goods being damaged, lost, or stolen between the point of manufacture (or purchase from a supplier) and the point of sale. [1] High shrinkage can adversely affect a retailer's ...
The processing of returned or damaged stock, for example, can cause articles to be removed from inventory and discarded (which contributes directly to shrinkage) rather than sold at a discount, donated, returned to vendors for credit, or otherwise removed from inventory in a manner that minimizes financial loss.
FIFO and LIFO accounting are methods used in managing inventory and financial matters involving the amount of money a company has to have tied up within inventory of produced goods, raw materials, parts, components, or feedstocks. They are used to manage assumptions of costs related to inventory, stock repurchases (if purchased at different ...
Inventory shrink knocked 40 basis points off Target's gross profit margin in the third quarter, which came in at 27.4%, according to the company. ... LeBron James scores 31 in record 19th ...
Michael J. Fiddelke, Target's chief financial officer, said this week that inventory shrink remains a major "headwind" for the company, two months after Target cited the closing of nine stores on ...
Inventory may also cause significant tax expenses, depending on particular countries' laws regarding depreciation of inventory, as in Thor Power Tool Company v. Commissioner. Inventory appears as a current asset on an organization's balance sheet because the organization can, in principle, turn it into cash by selling it. Some organizations ...
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