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On April 18, 2020, Jane Juniper purchased 30 shares of Bryan Corp
On April 18, 2020, Jane Juniper purchased 30 shares of Bryan Corp. stock for $210, and on September 29, 2020, she purchased 90 additional shares for $900. On November 28, 2020, she sold 48 shares, which could not be specifically identified, for $576 and on December 8, 2020, she sold another 25 shares for $188. What is her recognized gain or loss?
Expert Solution
Computation of Recognized Gain or Loss:
Weighted Average Cost = Total Cost of Purchases/Total Shares
=(210+900)/(30+90)
= 1110/120
= $9.25 per share
Gain on November 28,2015 = Sales Proceeds of 48 shares - Cost of 48 shares
=(576-(48*9.25))
= 576 - 444
=$132
Gain on December 8 = 188-(25*9.25) = -$43.25
Hence,
Net Recognized Gain = 132-43.25 = $88.75
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