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Last year, Eric purchased the following shares of Calendars, Inc., stock. ...

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Accounting

Last year, Eric purchased the following shares of Calendars, Inc., stock.

Date Shares Basis
January 10 100 $3,000
May 5 100 $4,000
July 27 200 $10,000

On July 22 of this year, Eric sold 150 shares for $9,000. Eric used the first in, first out (FIFO) method to identify the shares sold. Calculate Eric's gain using this method.

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