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 per unit: Transactions Units Amount Inventory, January 1 500 $ 2,365 Purchase, January 12 600 3,600 Purchase, January 26 160 1,280 Sale (370 ) Sale (250 ) 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.)