Is zakat obligatory on an abundance of clothes prepared for personal use, and is it permissible to give their zakat in cash?

A Muslim is not required to pay Zakat on clothes intended for personal use, nor on other personal or household possessions, due to the Prophet's (peace be upon him) saying: "A Muslim is not required to pay Sadaqah (Zakat) on his slave or his horse." It is preferable to give in charity what exceeds one's needs.