At the end of January of the current year, the records of Donner Company showed the following for a particular item that sold at $16 per unit Transactions Inventory, January 1 Purchase, January 12 Purchase, January 26 Sale Sale Units Amount 500 $2,365 600 3,600 160 1,280 (370) (250) P7-3 Part 3 3. Between FIFO or LIFO, which method would result in the lower income tax expense? Assume a 30 percent average tax rate. (Round your answer to 2 decimal places.) Tax Savings Method