How is zakat paid on goods displayed for sale (trade goods) held in a shop?

Whoever possesses trade goods must appraise them when a year has passed over them. If their value reaches the nisab, then he must pay Zakat equal to a quarter of a tenth (2.5%) of their value in cash, based on the Prophet's (PBUH) saying: "There is no Zakat on wealth until a year has passed over it." This is the view held by the majority of scholars, in contrast to the Malikis, who believe that a hoarder does not pay Zakat on his goods until he sells them or sells a part of them.