Trout Company uses the LIFO method for financial reporting purposes but FIFO for internal reporting purposes. At January $1,2025,$ the LIFO reserve has a credit balance of S$1,300,000.$ At December $31,2025,$ Trout's internal reports indicated that the FIFO inventory balance was $$2,900,000$ and for external reporting purposes the LIFO inventory balance was Si$,500,000.$ What is the amount of the LIFO reserve and the LIFO effect related to $2025?$ What is the journal entry needed to record the LIFO effect at December $31,2025?$