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Hello fellas. A bit off topic but does any know normally how do the accountants work out profit and loss in share trading? Do they go via the trading account such open balance and close balance for a year or do they comb through all the transaction? Thanks in advance.
Sorry but it is not incorrect, if you are buying and selling continuously then your average price is constantly changing so unless you can isolate a trading parcel as a specific lot then you would use the average cost method.PS-Either method is fine in different circumstances.