Question: Use the data in exercise E6-16 to illustrate Langley's income tax advantage from using weighted-average cost over FIFO cost. Sales revenue is $6,000, operating expenses

Use the data in exercise E6-16 to illustrate Langley's income tax advantage from using weighted-average cost over FIFO cost. Sales revenue is $6,000, operating expenses are $1,100, and the income tax rate is 25%. How much in taxes would Langley save by using the weighted-average-cost method versus FIFO?

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