please answer (a2)

Crane Company uses the LIFO periodic method for financial reporting purposes but FIFO for internal reporting purposes. At January 1, 2025, the LIFO reserve has a credit balance of $1,300,000. At December 31,2025 , Crane's internal reports indicated that the FIFO inventory balance was $2,863,800 and for external reporting purposes the LIFO inventory balance was $1,456,400. (a1) What is the amount of the LIFO reserve and the LIFO effect related to 2025? LIFO reserve at December 31,2025 $ LIFO effect for 2025 $ What is the journal entry needed to record the LIFO effect at December 31, 2025? (If no entry is required, select "No entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. List debit entry before credit entry.)