Exercise $4-26($Algo$)$ Comparison of Inventory Methods $[$LO $04-01,04-02]$

$10$ The following events and transactions relate to the purchase and use of supplies inventory for Jedvilie Township: Donts

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On March $21,2022,$ supplies were ordered at an estimated cost of $$847,000.$

Supplies were recelved on Apill $4\mathrm{.}2022,$ and the actual cost of $$854,000$ was paid in cash.

On December $31,2022,$$$78,000$ in supplies remain. $($Assume there was no beginning balance.$)$

On February $23,2023,$ supplies were ordered at an estimated cost of $$855,000.$

Supplies were recelved on March $6\mathrm{.}2023,$ and the actual cost of $$868\mathrm{.}000$ was pald in cash.

Reterences $6.$ On December $31,2023.$$$60\mathrm{.}000$ in supplies remain.

Required

a Prepare journal entries to record the inventory transactions in Jedville's General Fund using the consumption method of accounting for inventory. Record the year$-$end adjusting and closing entries wherever necessary.

b$.$ Prepare journal entrles to record the inventory transactions in Jedville's General Fund using the purchases method of accounting for Inventory: Record the year$-$end adjusting and closing entries wherever necessary:

c$.$ Prepare journal entrles to record the inventory transactions in Jedville's governmental activities ledger, Record the year$-$end adjusting and closing entries wherever necessary. Close expenses to Net Position$-$Unrestricted.

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Requred e

Required $C$