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Knowledge Check 01 Jameson Company uses average cost and a perpetual system. On January 1, the company had 600 units of inventory at an average
Knowledge Check 01 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=$59,000 January 20: 800 units at $62=$49,600 Sales: January 12:1,200 units January 28: 900 units What is the average cost per unit that should be used to determine the cost of the units sold on January 28 ? Note: Round your answer to two decimal points
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