Give the journal entries to record the following selected transactions using the Perpetual Method of accounting for inventory.

1A. (a) During the year, $250,000 of material and supplies are received and paid. (b) $240,000 of supplies was issued for consumption. (c) A physical count of the inventory at the end of the period reported a decrease of $5,000.

1B. If in the previous exercise (1A) the Purchase method was used, what would be the expenditures reported for the period.