Sheridan 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 $1,235,600. At December 31, 2025, Sheridan's internal reports indicated that the FIFO inventory balance was $2,723,000 and for external reporting purposes the LIFO inventory balance was $1,391,200. (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 $