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Jameson Company uses average cost and a perpetual system. On January 1, the company had 600 units of inventory at an average cost of $55
Jameson Company uses average cost and a perpetual system. On January 1, the company had 600 units of inventory at an average cost of $55 per unit for a total cost of $33,000. The company purchased and sold inventory during the month as follows:Purchases:January 10: 1,000 units at $59 = $59,000January 20: 800 units at $62 = $49,600Sales:January 12: 1,200 unitsJanuary 28: 900 units
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