Saved Help Save & E Ches 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-25,880 units; cost $12.70 each. Feb. 12 Purchased 75,eee units for $13.00 each. Apr. 30 Sold 58,800 units for $20.50 each. Jul. 22 Purchased 55,000 units for $13.30 each. Sep. 9 Sold 75,000 units for $20.50 each. Nov. 17 Purchased 45,800 units for $13.70 each. Dec. 31 Inventory on hand-75,000 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 25.000 units with a cost of $12.20). Complete this question by entering your answers in the tabs below. mm Required 1 Required 2 Saved Help Save & Exit Submit Check my work Required 1 Requieu z 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 places.) Cost of Goods Available for Sale Cost of Goods Sold - April 30 Cost of Goods Sold - September 9 Inventory Balance Erpetual FIFO: Cost per # of units Cost per Cost of Goods Available for Sale # of units sold Cost of Goods Sold # of units sold Cost per + Cost of unit Goods Sold Cost per Total Cost of Goods Sold E # of units in ending inventory $ 12.70 S 317.500 12.70 12.70 $ 12.70 eg. Inventory urchases February 12 75.000 13.00 975.000 13.00 13.00 13.00 July 22 13.30 731.500 13.30 0 13.30 13.30 November 17 13.70 616.500 13.70 13.70 13.70 atal 200.000 $ 2.640.500 0 0 0 S 0 $ 0 S Required 2 > Check my work TE Reguireu 1 Required 2 O. Determine the amount Treynor would calculate internally for ending inventory and cost of goods sold using first-in, first-out (FIFO) under a perpetual invente places.) Cost of Goods Available for Sale Cost of Goods Sold - April 30 Cost of Goods Sold - September 9 Inventory Balar Perpetual FIFO: Cost per # of units Cost of Goods Available for Sale Cost per # of units sold Cost per unit Cost of # of units Goods Sold sold Coster unit Cost of Goods Sold Total Cost of Goods Sold # of units in ending inventory unit unit 25,000 $ 12.70 $ 317,500 12.70 $ 12.70 $ 0 $ 12.70 Beg. Inventory Purchases: February 12 75.000 13.00 13.00 13.00 13.00 13.30 0 13.30 July 22 13.30 975.000 731,500 616,500 $ 2.640.500 55,000 45.000 200.000 13.30 13.70 November 17 13.70 13.70 13.70 0 0 0 $ 0 0 Total Required 2 PA Required 1 Required 2 Determine the amount Treynor would report externally for ending inventory and cost of goods sold using last-in, first-out (LIFO) under a system. (Assume beginning inventory under LIFO was 25,000 units with a cost of $12.20). Cost of Goods Available for Sale Cost of Goods Sold - Periodic LIFO LIFO Cost of Goods Cost of units per Available for Sale # of units sold Cost per unit Cost per Ending Inventory - Periodic LIFO # of units Ending in ending Inventory inventory 12.20 Cost of Goods Sold Beginning Inventory 25.000 $ 12.20 305.000 12.20 Purchases $ 13.00 13.00 75.000 $ 13.00 55.000 $ 13.30 45.000 $ 13.70 CA 13.30 $ 975,000 731,500 616.500 2,628,000 Nov 17 13.70 Total 0 so 0 $