While preparing its draft final accounts for the year ended 31 October 24Y6 and its draft balance sheet as at 31 October 24Y6, DEF Corp discovered a mistake in the stock lists used to compute stock value as at 31 October 24Y6. The entry was:

Stock item	Number	Cost per unit	Total cost
S789	85	£5.10	£433.50

Required: (a) Identify the error in this entry. (b) Discuss the implications of this error on: (i) the stock value as at 31 October 24Y6. (ii) the cost of goods sold for the year ended 31 October 24Y6. (iii) the total for Current Assets as at 31 October 24Y6.