This is all one question. please explain your answer thanks

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-27,000 units cost $13.80 each. Teb. 12 Purchased 77,000 units for $14.10 each Apr. 30 Sold 50,000 units for $21.60 each Jul. 22 Purchased 57,000 units for $14.40 each. Sep. 9 Sold 79.000 units for $21.60 each Nov. 17 Purchased 47.000 units for $14.80 each Dec. 31 Inventory on hand-81,000 unite. 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 27,000 units with a cost of $13.30) 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 reservo, assuming the balance at the beginning of the year was $17,000 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 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 (Roone places.) Cont of Goods Available for Sale Coat of Goods Sold - April 30 Coat of Goods Sold September Inventory Baianos Perpetual o of units sold Cost of Bot Cost per Goods units unit Available for Sale 27,000 5 13.00 $ 372.000 Cost per unit Cost of Goods Sold of units Cost per sold unit Cost of Total cost of Goods Sold Goods Sold # of units In ending inventory Cost per unit Ending Inventory 5 13.80 $ 13.30 $ 13.80 14.10 Beg. Inventory Purchase February 12 July 22 November 17 Total 77.000 57.000 47,000 208,000 14.10 14.40 14.80 1,085,700 820,800 695.000 52,974.700 14.10 14:40 1480 14.40 5480 14.10 14.40 14.80 Required 2 > 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-27,000 units; cost $13.80 each. Feb. 12 Purchased 77,000 units for $14.10 each Apr. 30 Sold 50,000 units for $21.60 each Jul. 22 Purchased 57,000 units for $14.40 each. Sep 9 Sold 77.000 units for $21.60 each. Nov. 17 Purchased 47.000 unite for $14.80 each Dec. 31 Inventory on hand-81,000 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 27,000 units with a cost of $13,30). 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 $17.000, 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 externally for ending inventory and cost of goods sold using last-in, first-out (LIFO) under a periodic system. (Assume beginning inventory under LIFO was 27,000 units with a cost of $13.30). Cost of Goods Available for Sale Cost of Goods Sold - Periodic LIFO Ending Inventory - Periodic LIFO LIFO Cost Cost of Goods # of units # of units Cost per #of units Available for Cost of Cost per Ending per unit Sale sold in ending unit Goods Sold unit inventory Inventory Beginning Inventory 27,000 $13.30 $ 359,100 $ 13.30 $ 13.30 Purchases Feb 12 77,000 $ 14.10 1,085,700 $ 14.10 $ 14.10 Jul 22 57,000 $14.40 820,800 $ 14.40 $ 14.40 Nov 17 47,000 $ 14.80 695,600 $ 14.80 $ 14.80 Total 208,000 $ 2,961,200 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-27,000 units; cost $13.80 each. Feb. 12 Purchased 77,000 units for $14.10 each. Apr. 30 Sold 50,000 units for $21.60 each. Jul. 22 Purchased 57,000 units for $14.40 each Sep. 9 Sold 77,000 units for $21.60 each. Nov. 17 Purchased 47,000 units for $14.80 each Dec. 31 Inventory on hand-81,000 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 27,000 units with a cost of $13.30). 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 $17,000. 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 Nov. 17 Purchased 47,000 units for $14.80 each. Dec. 31 Inventory on hand-81,000 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 27.000 units with a cost of $13.30) 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 $17,000. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Record the year-end adjusting entry for the LIFO reserve, assuming the balance at the beginning of the year was $17,000. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field) View transaction list Journal entry worksheet