Medway social club operates a café for its members. For the year ended 31 December, sales amounted to $15000$ and the cost of goods sold totalled $12000$. The closing inventory of coffee was recorded at a cost value of $1000$ but had deteriorated so that its worth was $500$. What profit from the café should be transferred to the income and expenditure account?
- A$2000
- B$2500
- C$3000
- D$3500