Step 1: Turn the product into a double angle.
Multiply both sides of $\sin x\cos x=\frac{1}{4}$ by 2. Since $2\sin x\cos x=\sin2x$, we get $\sin2x=\frac{1}{2}$.
Step 2: Find the angles with sine one-half.
$\sin2x=\frac{1}{2}$ gives $2x=\frac{\pi}{6}$ or $2x=\frac{5\pi}{6}$.
Step 3: Solve for $x$.
Dividing by 2, $x=\frac{\pi}{12}$ or $x=\frac{5\pi}{12}$.
Step 4: Check the range.
Both values lie inside $\left(0,\frac{\pi}{2}\right)$, so both are valid. \[ \boxed{x=\frac{\pi}{12},\ \frac{5\pi}{12}} \]