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During 2019, Roberto sold 700 shares of Casual Investor Mutual fund for $8.05 per share. The shares were purchased on the following dates: Date May
During 2019, Roberto sold 700 shares of Casual Investor Mutual fund for $8.05 per share. The shares were purchased on the following dates: Date May 31, 2015 September 18, 2016 October 21, 2016 January 12, 2018 Shares Price 33e $8.888 170 $7.100 380 $9.100 210 $6.600 Required: Calculate the gain (loss) on the sale under the following assumptions: a. Basis is calculated using the first-In, first-out method (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). (Round "Average cost" to 3 decimal places. Round other Intermediate computations and final answer to 2 decimal places.) b
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