To more efficiently manage its inventory, Treynor Corporation maintains its internal inventory records using first-in, first-out (FFO) under a perpetual inventory system. The following information relates to its merchandise inventory during the year. Jan. 1 Inventory on hand-21,600 units; cost $12.30 each Feb. 12 Purchased 71,000 units for $12.50 each Apr. 30 Sold 50,000 units for $20.10 each Jul. 22 Purchased 51,000 units for $12.99 each. Sep. 9 Sold 71,000 units for $20.10 each Nov. 17 Purchased 41,000 units for $13.30 each Dec. 31 Inventory on hand-63,000 units. Required: 1. Determine the amount Treynor would calculate internally for ending inventory and cost of goods sold using first in, first-out (FFO) under a perpetual inventory system 2. Determine the amount Treynor would report externally for ending inventory and cost of goods sold using lastin, first-out (LIFO) under a periodic inventory system (Assume beginning inventory under LIFO was 21,000 units with a cost of $180) 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 of the beginning of the year was $11000 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 first-out (TIFO) under a perpetrators places.) Cost of Goods Sold - September Cost of Goods Sold - April 30 of units in ending Cooper Ending Cost of Goods Available for Sale Cost of of Cost per Goods units unit Available for Sale Cost of Total Cost of Ooods Sold Goods Sold Cost of Goods Sold #of units sold Cost per unit of unity Cost per sold Perpetual FIFO: unit