While preparing its draft final accounts for the year ended 31 March 24Y0 and its draft balance sheet as at 31 March 24Y0, NOP Ltd discovered a mistake in the stock lists used to compute the stock value as at 31 March 24Y0. The entry was:

Stock item	Number	Cost per unit	Total cost
M456	140	£4.25	£595

Required: (a) What is wrong with this particular entry? (b) What would the effect of the error have been on: (i) the value of stock as at 31 March 24Y0? (ii) the cost of goods sold for the year ended 31 March 24Y0? (iii) the net profit for the year ended 31 March 24Y0? (iv) the total for Current Assets as at 31 March 24Y0? (v) the Owner’s Capital as at 31 March 24Y0?