What is considered in evaluating trade goods for the purpose of Zakat in the Shafi'i school: is it the price of the goods at the time of purchase for sale, or at the time of sale at the end of the year, or the market price at the end of the year?

The Maliki school's view on zakat for trade goods is as follows:

1. If the goods remain for a full year: They are appraised at market value at the end of the year, and zakat is paid on their current value. If their value is below the nisab, no zakat is due on them unless combined with other assets to reach the nisab.

2. If the goods are sold during the year: If the money is kept as cash or used to purchase other goods at an equal or lower price: The money in hand is subject to zakat at the end of the year. If sold at a profit: The most sound opinion: The principal capital is subject to zakat according to its own hawl (zakat year), and a separate hawl is established for the profit, beginning from the time the goods convert into cash (liquidation). Another opinion: All of it is subject to zakat according to the hawl of the principal.

3. If the commodity is converted into cash after the completion of the hawl and profit is made: If the profit appears before the completion of the hawl (from the market price): All of it is subject to zakat according to the hawl of the principal. If the profit appears after the completion of the hawl: The most sound opinion: A new hawl is initiated for the profit. Another opinion: All of it is subject to zakat according to the hawl of the principal.