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-24,800 units; cost $13.50 each. Feb. 12 Purchased 74,000 units for $13.89 each. Apr. 39 Sold 50,000 units for $21.30 each. Jul. 22 Purchased 54,800 units for $14.10 each. Sep. 9 Sold 74,8e units for $21.30 each. Nov. 17 Purchased 44,899 units for $14.50 each. Dec. 31 Inventory on hand-72,869 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 24.000 units with a cost of $13.00). 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 $12.000. Complete this question by entering your answers in the tabs below. Required 1 Required 2 2 Required 3 Required 4 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. (Round "Cost per Unit" to 2 decimal places.) Cost of Goods Available for Sale Cost of Goods Sold - April 30 Cost of Goods Sold - September 9 Inventory Balance Perpetual FIFO: Cost per Cost of # of Cost per Goods units unit Available for Sale 24,000 $ 13.50 $ 324.000 S #of units sold Cost of # of units Cost per Goods Sold sold unit Cost of Goods Sold Total Cost of Goods Sold unit # of units in ending inventory Cost per unit Ending Inventory 24,000 S 13.50 $ 324,000 24,000 $ 13.50 $ 324.000 $ 13.50 s Beg. Inventory Purchases: 74,000 13.80 358 800 13.80 0 1,021,200 781,400 13.80 14.10 14.50 28.000 26.000 February 12 July 22 November 17 Total 54,000 44,000 368.800 1,021.200 74,000 761.400 54,000 638.000 44.000 $ 2.744.600 152,000 13.80 14.10 14.50 14.10 14.50 14.10 14.50 190.000 $ 2,108,600 78,000 $ 1.049.400 $ 3.156.000 0 S 0