How to figure out inventory?

Question

In Jan.07 I had $1800 of supplies on hand. During 07 supplies with a cost of $7000 are purchased. At 12/31/07 actual supplies on hand amounts to $2300. After supplies and adjustments are posted on 12/31/07 what would the balances in the supplies and supplies expense accounts be??

Answer 1

WOW -

Answer 2

Beginning supplies + purchases -Ending supplies = Supplies expensed.    Ending supplies balance is given.

Note:  Its hard to tell if these supplies you are talking about, are something like office supplies or part of your product.  If product related, they should be part of the "cost of goods sold" calculation rather than a straight expense (like you would book for office expenses, etc.)