Chapter 17 Job Order Costing 815 EX 17-3 Cost of materials issuances under the FIFO method An incomplete subsidiary ledger of materials inventory for May i 0BJ.2 2280 s as follows: RECEIVED ISSUED BALANCE Receiving Material:s Report Number Quantity Price Number Quantity Amount Date Quantity Price Amount Unit Requisition Unit May 1 285$30.00$8.550 May 4 /30 May 10 May 21 May 27 40 130 $32.00 91 365 110 38.00 97 100 a. Complete the materials issuances and balances for the materials subsidiary ledger under FIFO b. Determine the materials inventory balance at the end of May. c Journalize the summary entry to transfer materials to work in process. d.Explain how the materials ledger might be used as an aid in maintaining inventory quantities on hand