As I recall from long long ago, fatty acids were usually GC’d as their methyl esters. I'm guessing if the supplier has indicated 97%, that may be how it was done (with an internal standard). However, that isn't what is being asked.
Re: insoluble material.
It's insoluble, collect it. I'm just guessing it may be an inorganic salt. Water soluble? Does it burn? If inorganic, follow genchem method to ID cations and anions. If organic, is it a salt? Acidify. MS.