Required information P7-3 (Algo) Evaluating Four Alternative Inventory Metho Flow LO7-2, 7-3 (The following information applies to the questions displayed bele At the end of January of the current year, the records of Donner particular item that sold at $17.60 per unit: Transactions Inventory, January 1 Purchase, January 12 Purchase, January 26 Sale Sale Units 660 630 190 (520) (200) Amount $3,168 4,284 1,672 P7-3 Part 3 3. Between FIFO or LIFO, which method would result in the lower incom rate. (Round your answer to 2 decimal places.) Answer is complete but not entirely correct. Tax Savings Method LIFO $ 408.00 X