E6-25A (similar to The Shoreline Shop had the following inventory data: EE (Click the icon to vlew the inventory data.) Read the requirements. EQuestion Help DatTable Requirement 1. Shoreline need to know the company's gross profit percentage and rate of inventory tumover for 2018 under (1) FIFO, and (2) LIFO 2017 2018 Begin by calculating the gross profit percentage. (Enter the percentage to the nearest tenth of a percent. XX%.) Ending inventory at: a. FIFO b. LIFO FIFO Cost S 15,160S 30,040 Gross profit peroentage Requirements LIFO Cost 12,440 18,520 Cost of goods sold at: FIFO Cost LIFO Cost Sales revenue S 81,380 92,880 144,000 1. Company managers need to know the companys gross profit percentage and rate of inventory turnover for 2018 under 1. FIFO. 2. LIFO. 2. Which method produces a higher gross profit percentage? A higher inventory Print Done turnover? PrintDone Enter any number in the edit fields and then click Check