(Learning Objective 2, 3: Computing the tax advantage of LIFO over FIFO) Use the data for Ken’s in Exercise 6-16A to illustrate Ken’s income tax advantage from using LIFO over FIFO. Sales revenue is $6,600, operating expenses are $1,500, and the income tax rate is 35%. How much in taxes would Ken’s save by using the LIFO method versus FIFO?