An extract of the year-end Trial Balance is shown on the right. The Inventory figure appearing therein is the stock remaining unsold by the year-end. What has happened then to the opening inventory?

(a) There has been no stock left over at the end of the previous year
(b) It has been included within the amount of cost of goods sold
(c) It has been removed by the shop’s owner for personal use
(d) It has been stolen

Transcribed Image Text:

Cost of sales Sales Inventory Debit £348,694 £74,850 Credit £542,965