Gift Shop Inventory Shrinkage Audit

Inspection template for reconciling gift shop inventory counts against records to identify shrinkage, investigate variances, and document corrective actions.

Audit Scope and Count Setup

• Audit date, location, and count type documented
• Inventory scope matches the intended gift shop departments and SKUs
• Physical count performed with sales floor secured from active replenishment during count
• Count sheets or handheld scan data available for all counted areas
• Count team members and roles recorded

Physical Inventory Count Verification

• High-shrink or high-value SKUs counted individually
• Shelf, display, backroom, and locked storage locations all counted
• Damaged, opened, or unsellable items separated from saleable stock
• Count discrepancies above tolerance documented by SKU
• Physical count totals entered for each major category

Record Reconciliation and Variance Analysis

• POS sales, returns, and voids reviewed for the audit period
• Receiving, transfer, and adjustment records reviewed for completeness
• Variance amount calculated for each affected SKU
• Likely variance cause identified
• Shrinkage rate calculated for the audit period

Loss Prevention Controls and Inventory Security

• Backroom and stock storage access restricted to authorized staff
• High-value merchandise secured in locked display or storage areas
• Receiving area controls prevent unrecorded product movement
• Camera coverage or other deterrents reviewed for blind spots
• Inventory handling issues observed during audit

Corrective Actions, Follow-Up, and Sign-Off

• Corrective actions assigned with owner and due date
• Recount or spot-check scheduled for unresolved variances
• Loss prevention or management escalation completed for unexplained shrink
• Inspector signature
• Manager review and approval