An incomplete subsidiary ledger of materials inventory for May is as follows: RECEIVED ISSUED BALANCE Receiving Materials Report Unit Requisition Unit Number Quantity Price Number Quantity Amount Date Quantity Price Amount May 1 280 $29.90 $8,372 40 131 $32.50 May 4 91 371 May 10 44 114 37.80 May 21 97 100 May 27 Complete the materials issuances and balances for the materials subsidiary ledger under FIFO. Round your unit price answers to two decimal places and final answers to the nearest dollar. B. Determine the materials inventory balance at the end of May. Round your answer to the nearest dollar. C. Journalize the summary entry on May 31 to transfer materials to work in process. Refer to the Chart of Accounts for exact wording of account titles. Round your answers to the nearest dollar. D. Explain how the materials ledger might be used as an aid in maintaining inventory quantities on hand.

Cost of matarials issuancas u FIFO mathod Materials Inventory ournal Final Question Matenals Inventory RECEIVED ISSUED BALANCE Raport Number Quantity Price Unit Requlalton Number Quanbity May 1 329.00 8,372 4,257 X ,300V 1,300 4,309 2,041 10 $32.50 May 4 S32.50 40 V $11,329 x0 May 21 91 37.80 S32.50 114 S37.80V 58 May 2754 Points: 18 20 $2.041V Ponts: 11 Check My Work A and B. Caculave the amount af eatn meue, usng FIFO. In the Baance seciun,separate exch dterent unt: prize and its quarity