8 more efficiently manage its inventory, Treynor Corporation maintains its internal entory records using first-in, first-out (FIFO) under a perpetual inventory system. 2 following information relates to its merchandise inventory during the year: 1 Inventory on hand-20,000 units; cost $12.20 each. 12 Purchased 70,000 units for $12.50 each. 30 Sold 50,000 units for $20.00 each. 22 Purchased 50,000 units for $12.80 each. 9 Sold 70,000 units for $20.00 each. 17 Purchased 40,000 units for $13.20 each. 31 Inventory on hand-60,000 units. Book quired: Determine the amount Treynor would calculate internally for ending inventory d cost of goods sold using first-in, first-out (FIFO) under a perpetual inventory tem Determine the amount Treynor would report externally for ending inventory and st of goods sold using last-in, first-out (LIFO) under a periodic inventory system. sume beginning inventory under LIFO was 20,000 units with a cost of $11.70). Determine the amount Treynor would report for its LIFO reserve at the end of the Record the year-end adjusting entry for the LIFO reserve, assuming the balance he beginning of the year was $10,000. Complete this question by entering your answers in the tabs below. Umum con=con&external browser=0&launchUrlhttps%253A%252F%252Fims.mheducation.com%252Fmghmid. O Mensajes (1) WhatsApp Twitch more Watch shows online... YouTube e ark (max 230) Assigned Saved Help Save & Ex Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Determine the amount Treynor would calculate internally for ending inventory and cost of goods sold using first-in, first-out (FIFO) under a perpetual inventory system. ( places.) Cost of Goods Available for Sale Cost of Goods Sold - April 30 Cost of Goods Sold - September 9 Inventory Balance Perpetual FIFO: # of units Cost per unit Cost of Goods Available for #of units sold Cost per unit Cost of #of units Cost per Goods Sold sold unit Cost of Goods Sold Total Cost of Goods Sold # of units in ending inventory Cost per unit Ending Inventory Sale 20 000 $ 12.20 $ 244,000 12.20 $ 12.20 S 0 s 12 20$ Beg Inventory Purchases February 12 July 22 November 17 Total 70,000 50.000 40,000 180 000 12.50 12.80 13.20 0 875,000 640,000 528,000 $ 2287 000 12.50 12 80 13.20 1250 12 80 13.20 12.50 12.80 13.20 0 $ 0 0 5 0$ 0 0 $ 0 Required 2 > search II Connect - Google ork (max 230) Assigned i saved Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Determine the amount Treynor would report externally for ending inventory and cost of goods sold using last-in, first-out (LIFO) under system. (Assume beginning inventory under LIFO was 20,000 units with a cost of $11.70). Cost of Goods Availate for Sale Cost of Goods Sold - Periodic LIFO Ending Inventory - Periodic LIFO LIFO Cost of Goods # of units # of units Cost per Available for # of units Cost per Cost of in ending Cost per Ending unit sold unit Goods Sold Sale inventory unit Inventory Beginning Inventory 20.000 S 11.70 5 234,000 s 11.70 S 0 $ 11.70 Purchases Feb 12 Jul 22 $ 12.50 70,000 $12.50 50.000 $ 12.80 40 000 $ 13.20 180.000 875,000 640,000 528,000 2,277.000 s $ 12.80 13.20 one on 12.50 12.80 13.20 Nov 17 Total $ 0 S 0 0 $ 0 2. Determine the amount Treynor would report externally for ending inventory and cost of good under a periodic inventory system. (Assume beginning inventory under LIFO was 20,000 units w 3. Determine the amount Treynor would report for its LIFO reserve at the end of the year. 4. Record the year-end adjusting entry for the LIFO reserve, assuming the balance at the beginn ok Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Requid 4 Determine the amount Treynor would report for its LIFO reserve at the end of the year. LIFO Reserve $ 40,000 search Connect - Google... 14