Question
Jacquie purchases 300 shares of Ion Corporation stock on April 30, 2017, for $4,500 ($15 a share) and another 150 shares of Ion stock on
Jacquie purchases 300 shares of Ion Corporation stock on April 30, 2017, for $4,500 ($15 a share) and another 150 shares of Ion stock on February 3, 2018 for $3,750 ($25 a share). She sells 120 shares of the stock on May 9, 2019.
Determine the cost of the stock sold, assuming that Jacquie cannot adequately identify the shares.
Per Share: $_____
Total cost: $_____
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Financial Reporting and Analysis
Authors: Lawrence Revsine, Daniel Collins, Bruce Johnson, Fred Mittelstaedt, Leonard Soffer
7th edition
1259722651, 978-1259722653
