A company begins the year with a zero balance in the LIFO Reserve account. Based on an analysis of LIFO and FIFO, the company determines the LIFO Reserve should be $20,000 at the end of the year. Which journal entry is needed? O A. Debit Cost of Goods Sold for $20,000 and Credit Inventory for $20,000 O B. Debit LIFO Reserve for $20,000 and Credit Cost of Goods Sold for $20,000. O C. Debit Cost of Goods Sold for $20,000 and Credit LIFO Reserve for $20,000. OD. Debit Inventory for $20,000 and Credit Gain on Inventory for $20,000