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No person may be convicted of petit larceny of oil products unless the State has proved beyond a reasonable doubt each element of the crime. These elements are:.A defendant was convicted of felony theft when he stole personal property from the house of two victims' and then took another victim's car. (11) "Retail merchandise" means one or more items of tangible personal property displayed, held, stored, or offered for sale in a retail establishment. Conduct denominated theft in this chapter constitutes a single offense. Potential Penalties if Convicted. (B) Larceny of goods, chattels, instruments, or other personalty valued in excess of two thousand dollars is grand larceny. Grand and petit larceny distinguished; penalties. A person can be charged with this crime even if they don't leave the store with the items. • theft from construction sites,.