K Richmond Inc. inventory records for a particular development program show the following at March 31, 2020: (Click the icon to view the accounting records.) At March 31, 10 of these programs are on hand. All of the programs sold in March 2020 were sold on March 24, 2020. Richmond uses the perpetual inventory system. Sales revenue is $6,400. operating expenses are $1,300, and the income tax rate is 30%. How much in taxes would Richmond save by using the weighted-average-cost method versus FIFO? (Hold all decimals in interim calculations. Round all answers to the nearest whole number.) FIFO Weighted average cost of goods sold cost of goods sold 1,750 x income tax rate Tax savings using weighted-average Difference Accounting records Mar 1 Beginning inventory... 15 Purchase 26 Purchase % 7 units @$ 165 $1,155 10 units @ 175- 1,750 4 units @ 185- 740 Print Done