During 2014, Roberto sold 830 shares of Casual Investor Mutual fund for $8.875 per share. The shares were purchased on the following dates:

Calculate the gain (loss) on the sale under the following assumptions (carry your calculations to three places):
a. Basis is calculated using the first-in, first-out method.
b. Basis is calculated using the average cost method (assume all shares are long-term).

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Date May 31, 2010 September 18, 2011 October 21, 2011 January 12, 2013 Shares 400 225 425 276 Price $9.375 $8.500 $10.000 S7.125