P7-3 (Aigo) Evaluating rour Alternative inventory metnous based on income and Casn riow LU7-2, 1-3 [The following information applies to the questions displayed below.] At the end of January of the current year, the records of Donner Company showed the following for a particular item that sold at $18.00 per unit: Transactions Inventory, January 1 Units 550 Amount $1,980 Purchase, January 121 680 Purchase, January 26 130 3,808 988 Sale Sale (410) (200) 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.) Answer is not complete. Method LIFO Tax Savings