5 0.9 points Book Print References Required information Problem 7-47 (LO 7-2) (Algo) [The following information applies to the questions displayed below.) George bought the following amounts of Stock A over the years: Note: Loss amounts should be indicated with a minus sign. Stock A Stock A Date Purchased 11/21/1996 Number of Shares 1,020 Adjusted Basis $24,400 3/18/2002 510 9,180 Stock A 5/22/2011 770 27,720 Mc Graw Hill diting-and-As.pdf On October 12, 2022, he sold 1,230 of his shares of Stock A for $38 per share. Problem 7-47 Part-a (Algo) 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 A < Prev 5 of 11 Next > Check my work Show All