The Dockside Shop had the following inventory data: Click the icon to view the inventory dita.) Read the requirements Requirement 1. Dockside need to know the company's gross profit percentage and rote of inventory tumover for 2021 under (1) FiFO, and (2) LIFO. Begin by calculating the gross profit percentage. (Enter the percentage to the nearest tonth of a percent, x X.k. Do not enter the \% symbor in the input fioid.) Data table 1 under (1) FIFO, and (2) LIFO. ot enter the % symbol in the input field.) Dockside Shop had the following inventory data: (Click the icon to view the inventory data.) d the requirements. fuiroment 1. Docks by calculating the in bequirements Requ FIFO, and (2) LIFO % symbol in the input field.) 1. Company managers need to know the company's gross profit percentage and rate of inventory turnover for 2021 under 1. FIFO 2. LIFO. 2. Which method produces a higher gross profit percentage? A higher inventory turnover