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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 yoars: (Loss amounts should be indicated with a minus sign.) Date Number of justed Purchase 11/21/1995 527160 Stock 0738/2003 10.15 Shares 1.150 Basis Stock 574 Stock 5/22/2010 32,600 On October 12, 2021, he sold 1425 of his shares of Stock A for $38 per share Problem 7.47 Part-a (Algo) 2. How much gaindios will George have to recognize the uses the FIFO method of accounting for the shares sold? Conto o fogod 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. (Loss amounts should be indicated with a minus sign.) Adjusted 11/21/1995 Date Purchased Stock Stock A Stock Number of Shares 1,150 575 3/10/2001 5/22/2010 basis $ 27,600 10.350 32,400 On October 12, 2021, he sold 1,425 of his shares of Stock A for $38 per share. Problem 7.47 Part-b (Algo) b. How much gain/loss will George have to recognize it he specifically identifies the shares to be sold by telling his broker to sell all 900 shares from the 5/22/2010 purchase and 525 shares from the 11/201995 purchase? Gain or loss to be recognized