Question 4 of View Policies Current Attempt in Progress Waterway 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 $1,226,600. At December 31, 2025, Waterway's internal reports indicated. that the FIFO inventory balance was $2,898,400 and for external reporting purposes the LIFO inventory balance was $1,576,900. (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