George bought the following amounts of Stock A over the years: Note: Loss amounts should be indicated with a minus sign. Stock A Stock A Stock A Date Purchased 11/21/1997 3/18/2003 5/22/2012 Problem 7-47 Part-a (Algo) Number of Shares 1,180 590 930 On October 12, 2023, he sold 1,470 of his shares of Stock A for $38 per share. Adjusted Basis $ 28,320 10, 620 33,480 Gain or loss to be recognized a. How much gain or loss will George have to recognize if he uses the FIFO method of accounting for the shares sold?

George bought the following amounts of Stock A over the years: Note: Loss amounts should be indicated with a minus sign. On October 12,2023 , he sold 1,470 of his shares of Stock A for $38 per share. roblem 7.47 Part-a (Algo) How much gain or loss will George have to recognize if he uses the FIFO method of accounting for the shares sold