The Dockside Shop had the following inventory data: (Click the icon to view the inventory data.) Read the requirements. Requirement 1. Dockside need to know the company's gross profit percentage and rate of inventory turnover for 2021 under (1) FIFO, and (2) LIFO. Begin by calculating the gross profit percentage. (Enter the percentage to the nearest tenth of a percent, X.X%. Do not enter the \% symbol in the input field.) Data table Calculate the inventory turnover. (Round your answer one decimal place, X.X.) Requirements 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