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Joy Purchased 200 Shares of HiLo Mutual Fund on July

Question 27

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Joy purchased 200 shares of HiLo Mutual Fund on July 15, 2011, for $10,500, and has been reinvesting dividends. On December 15, 2015, she sells 100 shares. Joy purchased 200 shares of HiLo Mutual Fund on July 15, 2011, for $10,500, and has been reinvesting dividends. On December 15, 2015, she sells 100 shares. What is the basis for the shares sold assuming (1) FIFO and (2) average cost method? What is the basis for the shares sold assuming (1) FIFO and (2) average cost method?

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Assuming FIFO, the basis in th...

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