Comparison of Inventory Methods Dutch Truck Sales sells semitrailers. The exce current inventory includes the following five semitrailers (identical pt for paint color) along with purchase dates and costs: Semitrailer Purchase Date Cost April 3, 2015 April 10, 2015 April 10, 2015 May 4, 2015 May 12, 2015 $73,000 70,000 71,000 77,000 78,500 4 On May 20, 2015, a trucking firm purchased semitrailer 3 from Dutch for $86,000 Compute the gross margin on this sale assuming Dutch uses the: (a) FIFO inventory method (b) LIFO inventory method (c) Specific identification method Which inventory method do you think Dutch should use? Why? 1. 2