Table:
|  | December 31, |  |
| --- | --- | --- |
|  | 2018 | 2019 |
| Balance at beginning of year | (12,749) | (13,364) |
| Charged to cost of sales | (2,958) | (4,748) |
| Reversals | 723 | 915 |
| Utilization of the provision | 1,978 | 4,994 |
| Foreign currency translation effect | (358) | (324) |
| Balance at end of year | (13,364) | (12,527) |
Paragraphs:
NOTE 8. INVENTORIES
The changes in the allowance for obsolescence are as follows:
On December 31, 2019, our allowance for inventory obsolescence amounted to €12,527, which is 6.7% of total inventory. The major part of the allowance is related to components and raw materials. The additions for the years 2018 and 2019 mainly relate to inventory items which ceased to be used due to technological developments and design changes which resulted in obsolescence of certain parts.
The cost of inventories recognized as costs and included in cost of sales amounted to €510.2 million (2018: €365.8 million).
Question:
What is the percentage change in Balance at end of year from 2018 to 2019?
Answer: ( -12527 - (-13364))/-13364 = -6.26