Required Information [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 $16.00 per unit: Transactions Inventory, January 1 Purchase, January 12 Purchase, January 26 Sale Sale Units 500 640 110 (390) (280) Amount $2,650 4,672 1,023 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