Fantastic Shop, Inc. has net sales revenue of $1,100,000. The cost of goods sold is $440,000. Is Fantastic Company's gross profit percentage higher or lower than the industry average of 55% ? OA. Fantastic Shop's gross profit percentage is 5% lower than the industry average OB. Fantastic Shop's gross profit percentage is 5% higher than the industry average OC, Fantastic Shop's gross profit percentage is 10% higher than the industry average OD. Fantastic Shop's gross profit percentage is 10% lower than the industry average.