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.) Stock A Stock A Stock A Date Purchased 11/21/1995 Number of Shares 1,180 3/18/2001 5/22/2010 590 930 Adjusted Basis $ 28,320 10,620 33,480 On October 12, 2021, he sold 1,470 of his shares of Stock A for $38 per share. How much gain/loss will George have to recognize if he uses the FIFO method of accounting for the shares sold? Gain or loss to be recognized 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 Number of Adjusted Stock A Stock A Purchased 11/21/1995 Shares Basis 1,180 $28,320 3/18/2001 Stock A 5/22/2010 590 930 10,620 33,480 On October 12, 2021, he sold 1,470 of his shares of Stock A for $38 per share. 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 930 shares from the 5/22/2010 purchase and 540 shares from the 11/21/1995 purchase? Gain or loss to be recognized