John is a newly hired bookkeeper whose duties include making adjusting entries to bring certain accounts up to date at the end of the accounting period. You are told to review and explain to him the processes of adjusting supplies and adjusting merchandise inventory. The company uses a digital worksheet to record adjustments. Explain to him specifically (1) why we need to bring supplies and merchandise inventories up to date in the adjustment column of the worksheet and (2) how to adjust supplies and how to adjust merchandise inventory. (3) Explain why there are two steps to adjust merchandise inventory.