Homework: Chapter 6 Homework Score: 13.33 of 20 pts E6-25A (similar to) 7 of 7 (7 complete HW SC The Sea Hawk Shop had the following inventory data: (Click the icon to view the inventory data) Read the requirements Requirement 1. Sea Hawk need to know the company's gross proft percentage and rate of inventory turnover for 2018 under (1) FIFO, and (2) UFO. Begin by calculating the gross profit percentage. (Enter the percentage to the nearest tenth of a percent, XX%) a FIFO b. LIFO Gross profit percentage Enter any number in the edit fields and then click Check Answer Clear All parts remaining MacBook Air Do nunys gross profit percentage and rate of inventory tumover for 2018 under (1) FIFO, and (2) LIFO. mtage. (Enter the percentage to the nearest tenth of a percent, XX%.) U b. LIFO % Data Table Requirements 2017 2018 Ending inventory at FIFO Cos! LIFO Cost Cost of goods sold at: FIFO Cost LIFO Cost 1. Company managers need to know the company's gross profit percentage and rate of inventory turnover for 2018 under 1. FIFO. 2. LIFO 2. Which method produces a higher gross proft percentage? A higher inventory turnover? $ 29,420 $ 32,620 10,385 14.995 $ 77,550 95,175 141.000 Sales revenue Print Done Print Done then click Check Answer Clear All Check Answer MacBook Air DOO FVO 80, F3 000 F F7 F8