Final answer:
Without the specific inventory data and number of items sold, it is not possible to accurately calculate the cost of goods sold for Olympic Enterprises on June 14 using the average cost method.
Step-by-step explanation:
The student asked about the cost of goods sold (COGS) using the average cost method for an inventory sale for Olympic Enterprises on June 14. To calculate COGS, we need to know the number of items sold and the average cost per item. Since the specific inventory data and number of items are not provided, we cannot calculate the exact COGS for the June 14 sale. The average cost method would involve adding the total cost of goods available for sale and dividing by the total number of units available for sale to find the average cost per unit. Then, this average cost would be multiplied by the number of units sold to determine the COGS. However, without the necessary data, we cannot provide an answer from the choices provided (A) $1,176 (B) $1,432 (C) $1,520 (D) $1,274.
When looking at numerical results of calculations based on a basket of goods or a list of products with realistic prices, we may encounter messy-looking numbers like $17,147.51 or $27,654.92. These reflect the more complex and true-to-life nature of business and economic calculations compared to simplified examples.