Boynton Company began operations on January 2 2020. Banton FIFO for temal reporting purposes but i urolor extemal and tax reporting Althe end of the annual accounting period, the Inventory records of Boynton Company reveal the following 2020 2021 Ending Inventory using FIFO $280,000 $300,000 Ending Inventory using 100,000 LIFO 140,000 Whal is the required balance in the LIFO reserve for the year ending December 31. 2020? (do not use dollar signs, commas or decimals in your answer A What is the required balance in the UFO reserve for the year ending December 31, 2021? (do not use dollar signs commas ar decimals in your answer) What will be the amount of the Journal entry to adjust the "Allowance to Reduce FIFO Inventory to LIFO in 2021? (do not use S. commas or decimals in your