Question: Olympic Enterprises has the following inventory data: Date Quantity Unit cost June 1 Beginning inventory 5 $52 June 4 Purchase 10 $55 June 7 Sale

Olympic Enterprises has the following inventory data:

Date Quantity Unit cost

June 1 Beginning inventory 5 $52

June 4 Purchase 10 $55

June 7 Sale 12

June 11 Purchase 9 $58

June 14 Sale 8

Assuming average cost, what is the cost of goods sold for the June 7 sale? Please show equations, thanks.

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