E7-4 (Algo) FIFO Inventory Calculations [LO 7-3] Nigam & Roy, Incorporated began operating on June 26 with no inventory on hand. It then made the purchases listed below. Nigam & Roy, Incorporated sold and delivered 52 units on June 30. Date June 27 June 28 June 29 Description Purchase Purchase Purchase Units 16 40 24 Unit Cost $ 8.80 9.80 11.80 Total Cost $140.80 392.00 283.20 Required: 1. Calculate the number and cost of goods available for sale. 2. Calculate the number of units in ending inventory at June 30. 3. Calculate the cost of ending inventory and the cost of goods sold under FIFO.

E7-4 (Algo) FIFO Inventory Calculations [LO 7-3] Nigam & Roy, Incorporated began operating on June 26 with no inventory on hand. It then made the purchases listed below. Nigam & Roy, Incorporated sold and delivered 52 units on June 30 Description Date June 27 June 28 June 29 Purchase Purchase Purchase Required: Units Unit Cost 16 $ 0.00 fotal Cost $140.00 40 9.80 24 11.80. 192.00 283.20 1. Calculate the number and cost of goods available for sale 2. Calculate the number of units in ending inventory at June 30 3. Calculate the cost of ending inventory and the cost of goods sold under FIFO