(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 Stock Stock A Date Number of Purchased Shares 11/21/1993 1,070 3/18/1999 535 5/22/2008 820 Adjusted Basis $ 25, 680 9,630 29,520 On October 12, 2019, he sold 1,305 of his shares of Stock A for $38 per share. a. 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 [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 Purchased 11/21/1993 3/18/1999 5/22/2008 Number of Shares 1,070 Stock Stock A Stock A Adjusted Basis $ 25,680 9,630 29,520 535 820 On October 12, 2019, he sold 1,305 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 820 shares from the 5/22/2008 purchase and 485 shares from the 11/21/1993 purchase? Gain or loss to be recognized