PROBLEM 27. In pricing the gallons of petrol sold Service Station A follows the first-in first-out method, while Service Station B follows the last-in first-out method. On the 1st January both had the...

PROBLEM 27. In pricing the gallons of petrol sold Service Station A follows the first-in first-out method, while Service Station B follows the last-in first-out method. On the 1st January both had the same quantity in stock viz., 6,000 gallons @ $2.60.per gallon During the month each Station received additional supplies of 6,000 gallons @$ 2.7 per gallon. Sales of these two stations during the month were 8,000 gallons @ $2.90 per gallon Determine for each Service Station the profit earned during the month and the value of petrol in stock at the close of the month.