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 500 600 160 (370) (250) Amount $2,365 3,600 1,280 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 LIFO