Distinguish capital and Revenue receipts
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In Pricing the gallons of petrol sold,service station 'A' follows the first-in-first-out method,while service station'B'follows last-in-first-out method.On 1st January both has the same quantity in stock viz.6,000 gallons at Rs.26 per gallon.During the month,each station recieved additional supplies of 6,000 gallons at Rs.27.50 per gallon.Sales for each of these two stations,during the month,were 8,800 gallons at Rs.29 per gallon. Determine for each service station,profit earned during the month and value of the petrol in stock at close of the month.
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sir.i jitendra surati have a query.aboutloss settelment. i have loss of capital rs 26000/ and mr friend have loss of rs106000/- as capital. how to compensate the loss by sharing?how many i have to give to my friend ? (A)26000+106000=132000 and i have to give him 66000? or 40000 rs?