6:) George bought the following amounts of Stock A over the years: (Loss amounts should be indicated with a minus sign.) Date Purchased Number of Shares Adjusted Basis Stock A 11/21/1994 1,070 $25,680 Stock A 3/18/2000 535 9,630 Stock A 5/22/2009 820 29,520

On October 12, 2020, he sold 1,305 of his shares of Stock A for $38 per share.

A:) How much gain/loss will George have to recognize if he uses the FIFO method of accounting for the shares sold? Gain or loss to be recognized:

B:) How much gain/loss will George have to recognize if he specifically identifies the shares to be sold by telling his broker to sell all 820 shares from the 5/22/2009 purchase and 485 shares from the 11/21/1994 purchase? Gain or loss to be recognized: