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 Date Purchased 11/21/1994 3/18/2000 5/22/2009 Number of Shares 1,040 520 790 Adjusted Basis $ 24,960 9,360 28,440 On October 12. 2020, he sold 1.260 of his shares of Stock A for $38 per share o. 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 (lons amounts should be indicated with o minus ign.) Stock Stock Stock Date Purchased 11/21/1994 31/10/2000 5/22/2009 Number of Shares 1.040 $20 290 Kajusted Basis 524.900 9.160 2.440 On October 12, 2020, he sold 1.260 of his shares of Stock A for $38 per share b. How much gain loss Will George have to recognize the specifically identifies the shares to be sold by telling is over to selon 790 shares from the 5 22/2009 purchase and 470 shares from the 11 21/1994 purchase Gain or loss to be recognized