t Ron Company's inventory records for its retal division show the following at January 31: (click the icon to view the accounting records) At January 31, B of these units are on hand. Ron Company calculated its cost of goods sold using LIFO as $1,911 and its cost of goods sold using FIFO as $1835. Read the requirement How much in taxes would Ron Company, save by using the LIFO method versus FIFO7 Sales revenue is $7,500, operating expenses are $1,400, and the income tax rate is 25%. (Round your answer to the nearest cent.) Difference in methods Income tax rate (entered as a whole number) % Tax savings using LIFO a Data table - - am to Jan 1 Beginning inventory Purchase Jan 15 4 units @ $150 = $600 5 units @ $151 = $755 11 units @ $160 = $1,760 w Jan 26 Purchase Print Done