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Fill in the blanks please Effects of FIFO and LIFO Sheepskin Company sells to colleges and universities a special paper that is used for diplomas.

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Effects of FIFO and LIFO Sheepskin Company sells to colleges and universities a special paper that is used for diplomas. Sheepskin typically makes one purchase of the special paper each year on January 1. Assume that Sheepskin uses a perpetual inventory system. You have the following data for the 3 years ending in 2019: 2017 Beginning Inventory 0 pages Purchases 10,000 pages at $1.60 per page Sales 8,500 pages 2018 Beginning Inventory 1,500 pages Purchases 16,200 pages at $1.90 per page

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