Good Morning, @jenuneekor. 

It's great to see you back in the Community. Creating an Inventory Quantity Adjustment is the most efficient way to ensure that your inventory numbers are correct. However, the shrinkage will show unless you create the inventory items again with the right quantity.

Before doing so, I recommend consulting with your accountant. They'll be able to give you the best accounting advice for your business. If you don't have an accountant, check out this link to find one near you. 

If you have any other questions, don't hesitate to ask. I'm always here to lend a helping hand. Have a splendid day!