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 an Inventory on hand-25,000 units cost $23.60 each Feb. 12 Purchased 75,000 units for $13.99 each Ars Sold See units for $21.40 each Jul 22 Purchased 55,10 units for $14.20 each 5op Sold 75.000 units for each Nov. 17 Purchased 45.000 units for $16.68 each DC Inventory on its 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 lastin, first-out (LIFO under a periodic inventory system. Assume beginning inventory under LIFO wos 25.000 units with a cost of 513.101 3. Determine the amount Treynor would report for its LIFO reserve at the end of the year 4. Record the year and adjusting entry for the LIFO reserve, assuming the balance at the beginning of the year was $12.500