Joy Purchased 200 Shares of HiLo Mutual Fund on July

question 67

Essay

Joy purchased 200 shares of HiLo Mutual Fund on July 15, 2009, for $10,500, and has been reinvesting dividends. On December 15, 2014, she sells 100 shares.
What is the basis for the shares sold assuming (1)FIFO and (2)average cost method?

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Definitions:

Ganzfeld Procedure

An experimental technique used in parapsychology to test individuals for extrasensory perception, involving sensory deprivation.

Psychic Abilities

Claimed supernatural talents that allow individuals to perceive or influence external events beyond the capacity of scientific explanation.

Laboratory

A room or building equipped for scientific experiments, research, or teaching, or for the manufacture of drugs or chemicals.

Demand Characteristics

Aspects of a study that reveal the hypothesis or what is expected of participants, potentially influencing their behavior.