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ter 8 HW Saved Help Save & EX Chec 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: 1 Inventory on hand-29,000 units; cost $14.00 each. Feb. 12 Purchased 79,000 units for $14.30 each. Apr. 30 Sold 50,000 units for $21.80 each. Jul. 22 Purchased 59,000 units for $14.60 each Sep. 9 Sold 79,000 units for $21.80 each. Nov. 17 Purchased 49,000 units for $15.00 each. Dec. 31 Inventory on hand-87,000 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 lastin, first-out (LIFO) under a periodic Inventory system (Assume beginning inventory under LIFO was 29,000 units with a cost of $13.50). 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 $19,000. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Determine the amount Treynor would calculate internally for ending inventory and cost of goods sold using first-in, first-out (FIFO) under a perpetual invente places. Cost of Goode Available for Sale Cost of Goods Sold - April 30 Cast of Good Complete this question by entering your answers in the tabs below. Required Required 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 s places Cost of Goods Available for Sale Cost of Goods Sold - April 30 Cost of Goods Sold - September Inventory Balance of Cost per Cost of Cost per Goods + unit unit Available for Sale 29 000 $14.00 $ 400.000 units sold Cost of Goods Sold unit of units Cost per sold unit Cost per Cost of Goods Sold Total Cost of Goods Sold of units in ending Inventory End Inven s 14 00 14.00 0 $ 14.00 $ 3. Inventory Purchases February 12 July 22 November 17 14.30 14 30 14.00 ol 50.000 49.000 216,000 14.00 15.00 1.120 861.400 735.000 $ 3.132.100 14.30 14.60 15.00 15.00 14.50 15.00 0 $ 0 0 $ ols 0 s Required 2 >

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