A company has recently experienced an increase in inventory shrinkage, which is the loss of inventory due

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Question:

A company has recently experienced an increase in inventory shrinkage, which is the loss of inventory due to theft, damage, or other reasons. The company suspects that one of its employees is stealing inventory, but they are not sure who it is. The company decides to install cameras in the warehouse to monitor the employees and the inventory. After a week, the company reviews the footage and finds that one of the employees, named John, has been stealing inventory. The company estimates that John has been stealing an average of 5 items per day with a total value of $500. The company also estimates that the total amount of inventory shrinkage due to John's theft over the past year is $60,000. Calculate the number of items that John has stolen over the past year, and determine whether the company's estimate of the total amount of inventory shrinkage due to John's theft is accurate.