McQueen Tire began January with $57$ units of inventory that cost $$274$ each. During January, McQueen Tire completed these inventory transactions:

i $($Click the icon to view the inventory transactions.$)$

Required

The above data are taken from McQueen Tire's perpetual inventory records. Which cost method does McQueen Tire use?

Compute McQueen Tire's cost of goods sold and gross margin for January under the

a$.$ Perpetual inventory system

b$.$ Periodic inventory system

Requirement $1.$ The above data are taken from McQueen Tire's perpetual inventory records. Which cost method does McQueen Tire use?

The McQueen Company uses

Requirement $2.$ Compute McQueen Tire's cost of goods sold for January under the:

Transactions

a$.$ Perpetual $ $27,098$

b$.$ Periodic $$27,098$

Compute gross margin for January.

What is the gross margin?