George bought the following amounts of Stock A over the years: Number of Adjusted Date Purchased 11/21/1986 3/18/1992 Shares Basis Stock A Stock A Stock A 1,100 $31,900 850 18,700 740 11,840 5/22/2001 On October 12, 2018, he sold 1,315 of his shares of Stock A for $47 per share. Problem 5-63 Part a a. How much gain/loss will George have to recognize if he uses the FIFO method of accounting for the shares sold? Gain 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 740 shares from the 5/22/2001 purchase and 575 shares from the 11/21/1986 purchase? Gain