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-20,000 units; cost $12.20 each. Feb. 12 Purchased 70,000 units for $12.50 each. Apr. 30 Bold 50,000 units for $20.00 each. Jul. 22 Purchased 50,000 units for $12.00 each. Sep. 9 Bold 70,000 units for $20.00 each. Nov. 17 Purchased 40,000 units for $13.20 each. Dec. 31 Inventory on hand-60,000 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 20.000 units with a cost of $11.70). 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 $10.000 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Determine the amount Treynor would report for its LIFO reserve at the end of the year. LIFO Reserve Required 2 Required 4 > This is a numeric cell, so please enter numbers only