show steps thank you

Edward City started with fiscal year 2021 with inventory of supplies of $50,000. During year 2021, Edward City made a commitment to spend $400,000 to acquire supplies. Edward City received the supplies ordered with an invoice of $330,000, with estimated amount at $340,000. Edward paid in cash. At the end of year 2021, Edward still had $80,000 of supplies remained. (Do not add dollar sign; do not add comma by yourself to your amount; round the answer to the whole number; use minus sign if the amount is negative) Answer the following question: 1. Assume Edward City uses purchase method to record the acquisition of supplies. a. The amount of supplies expenditures reported on the year 2021 general fund operating statement would be b. The adjusting entry at the end of year 2021 related to inventory would be to debit (enter account title) at (enter S amount) and credit (enter account title) at (enter S amount) 2. Assume Edward City uses consumption method to record the acquisition of supplies. The amount of supplies expenditures reported on the year 2021 general fund operating statement would be Moving to another