Solution-Calculate the gain on the sale

Calculate the gain on the sale

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Reference no: EM132596057

Question - During 2018, Roberto sold 760 shares of Casual Investor Mutual fund for $8.20 per share. The shares were purchased on the following dates:

Date	Shares	Price
May 31, 2014	360	$9.10
September 18, 2015	200	$7.40
October 21, 2015	410	$9.40
January 12, 2017	240	$6.90

Calculate the gain (loss) on the sale under the following assumptions:

A. Basis is calculated using the first-in, first-out method. (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).

Reference no: EM132596057

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Calculate the gain on the sale

Reference no: EM132596057

Reference no: EM132596057

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