Capri Dcor Ltd. sells organic cotton crib mattresses. During the month of July, the company has recorded the following purchases and sales (see table below). Carpi Dcor is using the perpetual inventory method. The company does not accept returns for these mattresses (.e. estimated return rate is 0%). Purchases Units Unit Cost in s 32000 Date 01-Jul 10-Jul 12-Jul 17-Jul 30-Jul Sales Ending inventory Units Unit Price in s Cost in s 256,000 18500 14 108,000 248,000 21700 141 82,600 238,600 20000 7 26000 Blank 1) What inventory cost formula is Capri Decor using, FIFO or average cost? Blank 2) Determine the total cost of Goods Sold based on the correct cost formula. Blank 3) If Capri Decor was using the other cost formula not selected in Blank 1) would the total ending inventory cost at the end of July be higher or lower than with the current method? Blank 4) What is the amount of total ending inventory units at the end of July? Blank 5) What is the total revenue from the sales in July? Blank 6) Imagine that Carpri Dcor is able to keep the selling price per unit constant over the following year. If the company wanted to earn a gross profit margin of at least 40% what would the maximum unit cost they are willing to pay in order to meet this goal? Round your final result to two digits after the comma Further instructions: Enter amounts without formatting (no $-signs or thousands separators) For Blank 1, enter either "FIFO" or "AVCO" (without "") For Blank 3, enter either "higher" or "lower" (without "") For Blank 6, use the exact numbers for your calculations, and only round the final result to two digits after the comma. Blank # 1 Blank # 2 Blank # 3 Blank #4 Blank # 5 Blank # 6