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16 During 2021, Roberto sold 960 shares of Casual Investor Mutual fund for $9.30 per share. The shares were purchased on the following dates:
16 During 2021, Roberto sold 960 shares of Casual Investor Mutual fund for $9.30 per share. The shares were purchased on the following dates: Date 6 Shares Price points May 31, 2017 460 10.100 September 18, 2018 300 $ 8.400 October 21, 2018 January 12, 2020 510 10.400 340 $ 7.900 eBook Required: References Calculate the gain (loss) on the sale under the following assumptions: a. Basis is calculated using the first-in, first-out method. Note: Round your intermediate computations and final answer to 2 decimal places. b. Basis is calculated using the average cost method (assume all shares are long-term). Note: Round "Average cost" to 3 decimal places. Round other intermediate computations and final answer to 2 decimal places. a. b.
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