Dave Company's inventory records for its retail division show the following at October 31: (Click the icon to view the accounting records.) At October 31, 8 of these units are on hand Dave Company calculated its cost of goods sold using LIFO as $2,073 and its cost of goods sold using FIFO $1,995 Read the requirement How much in taxes would Dave Company, save by using the LIFO method versus FIFO? Sales revenue is $7.500, operating expenses are $1,700, and the income tax rate is 35% (Round your answer to the nearest cent.) Difference in methods Income tax rate (entered as a whole number) Tax savings using LIFO Data table Oct 1 Oct 15 Oct 20 Purchase Beginning Inventory Purchase t 6 units $165-$500 5 units @ $100-$430 9 units 5175-$1,675 Requirement 1. How much in taxes would Dave Company, save by using the LIFO method versus FIFO? Sales revenue is $7.500, operating expenses are $1,700, and the income tax rate is 35% (Round your ange to the nearest cent) Print Done Print Done dtv alt A Aa