Sunland Company uses the FIFO mothod for internal reporting purposes and LIFO for external reporting purposes The balance in the LIFO Reserve account (also known as "Allowance to Reduce Inventory to LIFO") at the end of 2020 was $200.000 The balance in the same account at the end of 2021 should be $425,000 What amount should Sunland debit Cost of Goods Sold in the 2021 income statement