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Please assist with part B. Thank you Dale purchased the following blocks of Westgate Stock: a. Dale sold 1,600 shares of the stock on November
Please assist with part B. Thank you
Dale purchased the following blocks of Westgate Stock: a. Dale sold 1,600 shares of the stock on November 20,2021 , for $5.00 per share for a total of $8,000. Using the first-in, first-out Required: b. Using the specific identification method, what is the gain or loss on the sale of the Westgate stock if 750 of the shares sold were method, determine the gain or loss on the sale of the Westgate stock. identified as being from the October 21, 2018, purchase and the remaining 850 shares from the December 18, 2020, purchase? Note: Do not round intermediate computations. Round your final answers to 2 decimal places. X Answer is complete but not entirely correctStep by Step Solution
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