During 2018, Roberto sold 830 shares of Casual Investor Mutual fund for $8.875 per share. The shares were purchased on the following dates:

            

Date	Shares	Price
May 31, 2014	400	$9.375
September 18, 2015	225	$8.500
October 21, 2015	425	$10.000
January 12, 2017	276	$7.125

Calculate the gain (loss) on the sale under the following assumptions (carry your calculations to three places):

a. Basis is calculated using the first-in, first-out method.

b. Basis is calculated using the average cost method (assume all shares are long-term).