E6-31B. (Learning Objectives 2, 3: Computing the tax advantage of LIFO over FIFO) Use the data for Riva’s, Inc., in Exercise 6-29B to illustrate Riva’s income tax advantage from using LIFO over FIFO. Sales revenue is $8,570, operating expenses are $2,300, and the income tax rate is 38%. How much in taxes would Riva’s save by using the LIFO method versus FIFO?