- Required information The following information applies to the questions displayed below.) George bought the following amounts of Stock A over the years: (Loss amounts should be indicated with a minus sign) Date Stock A Stock A Stock A Number of Adjusted Purchased Shares Basis 11/21/1993 1,930 $ 24,720 3/18/19995159 ,270 5/22/2098 7 80 28,080 On October 12, 2019, he sold 1,245 of his shares of Stock A for $38 per shore. a. How much gain/oss will George have to recognize if he uses the FIFO method of accounting for the shares sold? Gain or loss to be recognized