During 2022. Roberto sold 980 shares of Casual Investor Mutual fund for $9.45 per share. The shares were purchased on the following dates Date May 31, 2018 September 18, 2019 October 21, 2019 January 12, 2021 Shares 470 310 520 350 Price $ 10.200 $8.500 $ 10.500 $ 8.000 Required: Calculate the gain foss) on the sale under the following assumptions H Loss D Loss a. Basis is calculated using the first-in, first-out method. Note: Round your intermediate computations and final answer to 2 decimal places. b. Basis is calculated using the average cost method (assume all shares are long-term) Note: Round "Average cost to 3 decimal places. Round other intermediate computations and final answer to 2 decimal places.
During 2022. Roberto sold 980 shares of Casual Investor Mutual fund for $9.45 per share. The shares were purchased on the following dates Date May 31, 2018 September 18, 2019 October 21, 2019 January 12, 2021 Shares 470 310 520 350 Price $ 10.200 $8.500 $ 10.500 $ 8.000 Required: Calculate the gain foss) on the sale under the following assumptions H Loss D Loss a. Basis is calculated using the first-in, first-out method. Note: Round your intermediate computations and final answer to 2 decimal places. b. Basis is calculated using the average cost method (assume all shares are long-term) Note: Round "Average cost to 3 decimal places. Round other intermediate computations and final answer to 2 decimal places.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:During 2022. Roberto sold 980 shares of Casual Investor Mutual fund for $9.45 per share The shares were purchased on the
following dates
Date
May 31, 2018
September 18, 2019
October 21, 2019
January 12, 2021
Shares
470
310
520
Required:
Calculate the gain (oss) on the sale under the following assumptions
a
Price
$ 10.200
$8.500
$ 10.500
$ 8.000
a. Basis is calculated using the first-in, first-out method.
Note: Round your intermediate computations and final answer to 2 decimal places.
b. Basis is calculated using the average cost method (assume all shares are long-term)
Note: Round "Average cost to 3 decimal places. Round other intermediate computations and final answer to 2 decimal places.
Loss
Loss
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