Question

. Dustin buys 200 shares of Monroe Corporation common stock on December 1, 2014, for $2,000....

. Dustin buys 200 shares of Monroe Corporation common stock on December 1, 2014, for $2,000. He buys an additional 200 shares for $1,800 on December 23, 2015. On December 28, 2015, Dustin sells the first 200 shares for $1,700. He sells the last 200 for $1,600 on June 15, 2016. What is (are) the amount(s) and the year of recognition of losses that Dustin can recognize?

​

2014 2015

a.

- 0 - $200

b.

- 0 - $500

c.

$300 $200

d.

$300 $500

According to the test bank 2016, the answer is (b). Please explain how to calculate this. Thank you.

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