ences To more efficiently manage its Inventory, Treynor Corporation maintains its Internal Inventory records using first-in, first-out (FIFO) under a perpetual Inventory system. The following Information relates to its merchandise Inventory during the year: Jan. 1 Inventory on hand-26,000 units; cost $12.80 each. Feb. 12 Purchased 76,000 units for $13.10 each. Apr. 30 Sold 50,000 units for $20.50 each. Jul 22 Purchased 56,000 units for $13.40 each. Sep. 9 Sold 76,000 units for $20.60 each. Nov. 17 Purchased 46,000 units for $13.80 each. Dec. 31 Inventory on hand-78,000 units. Required: 1. 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. 2. Determine the amount Treynor would report externally for ending Inventory and cost of goods sold using last-In, first-out (LIFO) under a periodic Inventory system. (Assume beginning Inventory under LIFO was 26,000 units with a cost of $12.30). 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 beginning of the year was $13,000. 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. (Round "Cost per Unit" to 2 decim 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 Sale # of units sold Cost per unit Cost of Goods Sold # of units Cost per sold unit Cost of Goods Sold Total Cost of Goods Sold # of units in ending inventory Cost per unit Ending Inventory Beg. Inventory 26,000 $12.80 332,800 12.80 12.80 0 $ 12.30 S 0 Purchases: February 12 July 22 76,000 56,000 13.10 13.40 995.600 13.10 13.10 750,400 13.40 0 13.40 November 17 46,000 13.80 634,800 13.80 13.80 13.10 13.40 13.80 0 Total 204,000 $2,713,600 0 0 0 $1 Required 2