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 hand26,000 units; cost $12.80 each.
Feb.		12		Purchased 76,000 units for $13.10 each.
Apr.		30		Sold 50,000 units for $20.60 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 hand78,000 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 $16,000.