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Rafael purchased stock last year as follows: Month Shares Total Cost July 25 $ 2,500 August 50 $4,500 September 80 $8,000 In October of this
Rafael purchased stock last year as follows:
Month | Shares | Total Cost |
July | 25 | $ 2,500 |
August | 50 | $4,500 |
September | 80 | $8,000 |
In October of this year, Rafael sells 85 shares for $7,500. Rafael cannot specifically identify the stock sold. The basis for the 85 shares sold is
A) $7,500.
B) $9,550.
C) $10,500.
D) $19,250
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