Cost of Materials Issuances Under the FIFO Method An incomplete subsidiary ledger of materials inventory for May is as follows: a. Complete the materials issuances and balances for the materials subsidiary ledger under FIFO. Received Issued Receiving Report Materials Balance Unit Quantity Number Price Requisition Quantity Amount Number Date Quantity Unit Amount amount price 27 270 May 1 $7 380 $5 $1,900 May 4 104 430 33 180 May 10 9 May 21 bill 117 250 May 27 b. Determine the materials inventory balance at the end of May. c. Journalize the summary entry to transfer materials to work in process. If an amount box does not require an entry, leave it blank c. Journalize the summary entry to transfer materials to work in process. If an amount box foes not require an entry, teave it blank d. Comparing as reported in the material ledger with predetermined order onts would enable management to order materials before an causes idle time