Homework Answers
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| Please find below the answer | |
| Statementshowing Computations | |
| Paticulars | Amount |
| Since FIFO method is used it would be assumed that stock purchased first would be sold first | |
| Sales of 100 shares would include purchase from Jul 05 | |
| Sale Value | 14,000.00 |
| Purchase cost = 12000/150 *100 | 8,000.00 |
| Long Term Capital Gain = 14,000 - 8,000 | 6,000.00 |
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