Reference no: EM13778
To design a class-based solution to a problem using multiple data structures.
The Problem:
Write a program to help an investor figure out which stocks to sell from his/her portfolio. In the USA, the government taxes income from investments. This is called capital gains tax. Your program will determine profit and loss on stock sales, using either of two different accounting methods:
LIFO: Last purchased is the first sold
FIFO: First purchased is the first sold.
To illustrate these methods, suppose you have the following transactions:
|
Stock Name
|
Date
|
Number of shares
|
Price per share
|
|
UMKC
|
June 1
|
100
|
45.50
|
|
UMKC
|
June 6
|
100
|
46.50
|
|
UMKC
|
June 15
|
100
|
48.50
|
|
UMKC
|
June 22
|
100
|
55.50
|
Now, let's say you want to sell 125 shares of UMKC stock. You can choose to sell either the oldest or the newest shares. Today's price is $54.00/share. Under the FIFO method, the 125 shares sold are considered to have cost $5712.50 (100 shares at $45.50 and 25 shares at $46.50), earning a profit of $1037.50 for reporting taxable income to the IRS. Under the LIFO method, the 150 shares sold cost $6762.50 (100 shares at $55.50 and 25 at $48.50), which means you will report a loss of $12.50 to the IRS.
The program will allow for the following activities:
1. Stock Purchase--add the number of shares and cost to the portfolio list for that stock in the portfolio. If current portfolio does not have the stock already in inventory, the stock is added to the stock list and the shares added to its inventory.
2. Stock Sale-- deletes the specified number or shares from the portfolio and generates a report ("report.txt") of the accounting method (FIFO, LIFO) that results in the minimum profit (or maximum loss). The method that produces the desired results is also noted as part of the output for this option.
The report file should look like the following:
3. Profit/Loss Report for Sale of UMKC
4. FIFO method results in a profit of 1037.50
5. LIFO method results in a loss of -12.50
6. Profit/Loss Report for Sale of PCS
7. FIFO method results in a profit of 3250
8. LIFO method results in a profit of 3375
Input
Your program will read all transaction data from a file.
Each line of the transaction file will include
- stock symbol
- action to be taken (char 'B' or 'S' to indicate a buy or sell)
- the number of shares bought or sold
- the price paid or received.
Example file contents:
IBM B 100 100.00
PCS B 100 100.00
PCS B 75 95.00
IBM B 100 90.00
IBM S 150 95.00
CERN B 200 80.00
PCS S 150 120.00
Output
For all valid transactions, print the transaction to the output file(output3.txt). After each valid transaction, print the total holdings of the portfolio.
Sample output:
Transaction: CERN B 200 80.00
Total Holdings:
Name #Shares LIFO Value FIFO Value
CERN 200 1600.00 1600.00
IBM 50 5000.00 4500.00
PSC 25 2500.00 2250.00
============================================
If a transaction lists a sale of a given stock which is either not in the portfolio, or there are not enough shares owned, then print the transaction to an error file.