The following information is available for a business. Revenue $140\,000$ Opening inventory $22\,000$ Closing inventory $24\,500$ Purchases $120\,000$ Goods are sold at cost plus $25\%$. The owner has removed goods for personal use, but these have not been entered as drawings. What is the value of the goods removed for personal use?
- A$5500
- B$10\,500
- C$12\,500
- D$17\,500