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 hand25,000 units; cost $13.60 each.

Feb. 12 Purchased 75,000 units for $13.90 each.

Apr. 30 Sold 50,000 units for $21.40 each.

Jul. 22 Purchased 55,000 units for $14.20 each.

Sep. 9 Sold 75,000 units for $21.40 each.

Nov. 17 Purchased 45,000 units for $14.60 each.

Dec. 31 Inventory on hand75,000 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 $13.10). 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 $12,500.