Chapter 6 Homework M/10/22 1154 AM Question 5, E6-18A (book/static) HW Score: 41.44%, 8.29 of 20 points O Points of 3 Save Griffin Company's inventory reconds for its retail division show the following at December 31 (Click the icon to view the accounting records) At December 31, 11 of these units are on hand. Griffin Company calculated its cost of goods sold using LIFO as $2.773 and its cost of goods sold using FIFO $2,065 Read the cement How much in taxes would Griffin Company, save by using the LIFO method versus FIFO? Sales revenue is $8,000, operating expenses are $2.000, and the income tax rate to 30% (Round your answer to the Difference in methods Income tax rate (entered as a whole number) Data table x Tax savings using LIFO Dec 1 Beginning inventory units @5105-$1,405 Dec 15 Dec 26 Purchase Purchase Suns @3100 3430 13 units @$175-$2.276 Print Done Chara Check