Turn Page 
Notes to the consolidated financial statements
Year ended 31 July 2007
16. Inventories
| 2007 £m |
2006 £m |
|
|---|---|---|
| Goods purchased for resale | 2,069 | 1,954 |
£11,312 million has been charged to operating profit in relation to inventories recognised as an expense in the year (2006: £10,007 million). In addition, an amount of £1 million has been credited to the income statement to reverse write-downs of inventories to net realisable value (2006: charge of £32 million).