Given the following information, calculate the gross profit and gross profit ratio under (a) FIFO periodic and under (b) LIFO periodic. (Click the icon to view the information.) Calculate the gross profit under (a) FIFO periodic and under (b) LIFO periodic. Select the formula labels and then enter the amounts to calculate the gross profit. Gross proft (a) FIFO More Info Sales Beginning inventory 280 units at $130 per unit 80 units at $65 per unit 330 units at $40 per unit Purchases PrintDone