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The Sea Hawk Shop had the following invertory data m Click the icon to view the inventory data Read the reasons Requirement 1. Son Hawk need to know the company's gross profit percentage and more of inventory tumovet for 2021 unde (1) FIFO, and uro, Begin by calculating the grous profil percentage. Enter the percentage to the nearest forth of a percent. XX. Do not enter the symbole FIFO LIFO Grous profit percentage 360 22.0 Calculate the inventory turnover (Round your answer one decimale XX) FIFO UFO Inventory turnover 73 Requirement 2. Which mhod produces a higher pros proft percentage?Acer inventory over FIFO produces a higher gross profit percentage LIFO produces a higher rate of inventory turnovec Help me solve this Etext pages Calculator Similar question Data table 2020 2021 Ending inventory at FIFO Cost $ 29,420 $ 32,620 10,385 14,995 Ending inventory at LIFO Cost Cost of goods sold at FIFO Cost Cost of goods sold at LIFO Cost $ 77,550 95, 175 Sales revenue 141,000 Print Done