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Using LIFO,we can consider shares bought in April will be sold in June.Loss per share=rs10.Thus for 100 shares loss=Rs.1000.Similarly shares bought in September will be sold in November.Loss per share=Rs.20.For 100shares loss will be Rs.2000.Thus total loss=1000+2000=3000

 

Using FIFO, shares bought in January will be sold in June and shares bought in April will be sold in November.Profit in Jan-June=1000 and we can find no profit/loss by selling shares in November which are bought in April.Therefore overall profit=1000

Hence 39.(a)loss 3000       40.(b)profit 1000

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