Assume the business operated from Jan 1 to Dec 31, 2018, 1 full year (the problem says started on Jan 4" which makes no difference). Use the ending account balances per 12/31/2018 physical count of the inventory and the review of documents such as the counting of the cash and the found unpaid invoice. Record the Purchases of food, beverages, and supplies inventories for $48,222 by 3C Company for the year. This puts the purchases into inventory. 3. Write the Journal Entry and Post to the T-account Account Debit Credit Supplies inventory Record purchases of inventory Next step: Inventory on truck $280 as of 12/31/2018. Use this information to adjust your inventory account. The company purchased food, beverages, and supplies inventories for $48,222 but they did not use it all. How much inventory did they use (the cost of goods sold) during the year