a perpetual inventory system. The following information relates to its inventory during the year:January $1$February $12$Required:April $30$ Sold $50,000$ units for $$21\mathrm{.}40$ each,PJuly $22$ Purchased $55,000$ units for $$14\mathrm{.}20$ each.,September $9$ Sold $75,000$ units for $$21\mathrm{.}40$ each.November $17$ Purchased $45,000$ units for $$14\mathrm{.}60$ each.December $31$ Ending inventory$-75,000$ units$\mathrm{.}1.$ Determine the amount Telnex would calculate internally for ending inventory and cost of goods sold using first$-$in$,$ first$-$out $($FIFO$)$nder a perpetual inventory system. Beginning inventory under FIFO was $25,000$ units with a cost of $$13\mathrm{.}60$ each$\mathrm{.}2.$ Determine the amount Telnex would report externally for ending inventory and cost of goods sold using last$-$in$,$ first$-$out $($LIFO$)$nder a periodic inventory system. Beginning inventory under LIFO was $25,000$ units with a cost of $$13\mathrm{.}10$ each$\mathrm{.}3.$ Determine the amount Telnex would report for its LIFO reserve at the end of the year.nventory$-25,000$ units$\mathrm{.}75,00$ units for $$13\mathrm{.}90$ each$\mathrm{.}4.$ Record the year$-$end adjusting entry for the LIFO reserve. The balance of the LIFO reserve at the beginning of the year was$$12,500.$Complete this question by entering your answers in the tabs below.Required $1$ Required $2$ Required $3$ Required $4$Perpetual FIFO:Beginning InventoryPurchases:Determine the amount Telnex would calculate internally for ending inventory and cost of goods sold using first$-$in$,$ first$-$out $($FIFO$)$ under a perpetual inventory system. Beginning inventory undunits with a Cost of $$13\mathrm{.}60$ each.February $12$July $22$November $17$TotalCost of Goods Available for SaleCost ofNumberGoodsAvailable for of unitsSale$340,000|$NumberCost perof units$25,000|$$ $13\mathrm{.}60$ $$75,00055,00045,000$unit$200,00013\mathrm{.}901,042,50014\mathrm{.}2014\mathrm{.}60781,000657,000$$ $2,820,500$Cost of Goods Sold $-$April $30$SoldCost perunit$13\mathrm{.}60139014\mathrm{.}2014\mathrm{.}60$Cost ofGoods SoldCost of Goods Sold $-$ September $9$Numberof unitssoldSavedCost perunit$13\mathrm{.}60|13\mathrm{.}9014\mathrm{.}20|14\mathrm{.}60$Cost ofGoods SoldTotal Cost ofGoods SoldInventory BalanceNumber ofunits inendinginventoryCost perunit$13\mathrm{.}60|13\mathrm{.}9014\mathrm{.}2014\mathrm{.}60$EndingInventory