Henri Company's inventory records show the following data:

Units Unit Cost

Inventory, January 1 10,000 $9.20

Purchases: June 18 9,000 8.00

November 8 6,000 7.25

A physical inventory on December 31 shows 3,000 units on hand. Henri sells the units for $12 each. The company has an effective tax rate of 20%. Henri uses the periodic inventory method. What is the difference in taxes if LIFO rather than FIFO is used?

Group of answer choices

$1,170 additional taxes

$630 additional taxes

$1,290 additional taxes

$630 tax savings