P Flag question Question 28 ot yet answered Points out of 2.50 Porto Cabinets uses the FIFO method for internal reporting purposes and LIFO for external eporting purposes. Below is information regarding ending Inventory for Porto. FIFO Inventory LIFO Inventory December 31, 2019 336,000 290,000 December 31, 2020 302,000 250,000 December 31, 2021 400,000 320,000 How much are LIFO reserve and LIFO effect for the year ended on December 31, 2020, espectively? Eelect one: a. $16,000 and $28,000. b. $52,000 and $28,000. C. $52,000 and $6,000. d. $16,000 and $6,000