Skysong 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 $978,900. At December 31,2025, Skysong's internal reports indicated that the FIFO inventory balance was $2,711,600 and for external reporting purposes the LIFO inventory balance was $1,634,100. (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 $ eTextbook and Media List of Accounts Attempts: 0 of 3 used