QUESTION $6$

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 $50\%?$

Fantastic Shop's gross profit percentage is $15\%$ higher than the industry average.

Fantastic Shop's gross profit percentage is $15\%$ lower than the industry average.

Fantastic Shop's gross profit percentage is $10\%$ higher than the industry average.

Fantastic Shop's gross profit percentage is $10\%$ lower than the industry average.