Blossom Company uses the LIFO method for financial reporting purposes but FIFO for internal reporting purposes. At January 1, 2020, the LIFO reserve has a credit balance of $1,387.700. At December 31, 2020, Blossom's internal reports indicated that the FIFO inventory balance was $2.875,500 and for external reporting purposes the LIFO inventory balance was $1,390,400. (a) What is the amount of the LIFO reserve and the LIFO effect related to 2020? LIFO reserve at December 31, 2020 $ LIFO effect for 2020 Marigold Company uses a periodic inventory system. For April, when the company sold 550 units, the following information is available. Units Unit Cost $14 April 1 inventory April 15 purchase April 23 purchase 250 420 330 1.000 17 18 Total Cost $3,500 7,140 5.940 $16,580 Compute the April 30 inventory and the April cost of goods sold using the FIFO method. Ending inventory $ $ Cost of goods sold