[单选题]
A trader who fixes his prices by adding 50% to cost actually achieved a mark-up of 45%.Which of the following factors could account for the shortfall?
A .Sales were lower than expected due to demand for the product having fallen as a result of a “credit crunch”.
B .Goods taken from inventories by the proprietor were recorded by debiting drawings and crediting purchases with the cost of the goods.
C .Closing inventories were higher than opening inventories as a large consignment of purchases was received only a few days before the current year end.
D .Opening inventories had been overstated due to double-counting of some items during the physical inventory count.
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