LIFO or FIFO when selling shares on ASB?

Maybe a dumb question, say you have a holding of X company and you bought a parcel of shares at 80c (entry) and a parcel of shares at 54c and 50c. If you sold a portion of your holding does it sell off as an average, or do your oldest shares i.e. those bought at 80c get sold off first - in the instance where the stock price goes to 65c and you want to trim your holding?

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Originally Posted by Cadalac123

Maybe a dumb question, say you have a holding of X company and you bought a parcel of shares at 80c (entry) and a parcel of shares at 54c and 50c. If you sold a portion of your holding does it sell off as an average, or do your oldest shares i.e. those bought at 80c get sold off first - in the instance where the stock price goes to 65c and you want to trim your holding?

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Does it really matter? A share is a share. How a portfolio management system decides to allocate your holding does not make the economics of it any different :) Can you not also manage this yourself in ASB? I know in Direct you can actually put in your own parameters.

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Originally Posted by Cadalac123

Maybe a dumb question, say you have a holding of X company and you bought a parcel of shares at 80c (entry) and a parcel of shares at 54c and 50c. If you sold a portion of your holding does it sell off as an average, or do your oldest shares i.e. those bought at 80c get sold off first - in the instance where the stock price goes to 65c and you want to trim your holding?

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Now you’ve opened a big can of worms ....:eek2:

I am not sure that ASB does either. It just adds and subtracts to the totals of volume and price.

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Originally Posted by Cadalac123

Maybe a dumb question, say you have a holding of X company and you bought a parcel of shares at 80c (entry) and a parcel of shares at 54c and 50c. If you sold a portion of your holding does it sell off as an average, or do your oldest shares i.e. those bought at 80c get sold off first - in the instance where the stock price goes to 65c and you want to trim your holding?

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For trading I use either total trade on and off or average cost if buying and selling along the way, keeps it simple.

Surely if trading/declaring income etc - in simple terms, over the year i bought 100 shares of Xyz for $1000 and over the year i sold the 100 shares and received $1100 net (after fees), whether or not that was 1 sell transaction or more

On ASB it seems to keep a record of all your trades over the years and shows a profit/loss based on all buys and sell over the years as mentioned by some on here previously

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Originally Posted by Cadalac123

Maybe a dumb question, say you have a holding of X company and you bought a parcel of shares at 80c (entry) and a parcel of shares at 54c and 50c. If you sold a portion of your holding does it sell off as an average, or do your oldest shares i.e. those bought at 80c get sold off first - in the instance where the stock price goes to 65c and you want to trim your holding?

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Average cost all the way. Anything else is an administrative nightmare.

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Originally Posted by GTM 3442

Average cost all the way. Anything else is an administrative nightmare.

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Absolutely agree, there is no simpler method, LIFO and FIFO should only be used as dogs names.