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 Balance Receiving Report Number Materials Unit Price Unit Quantity Requisition Quantity Amount Date Quantity Amount price Number May 1 285 $30.00 $8,550 40 130 $32.00 May 4 91 365 May 10 110 38.00 May 21 97 100 May 27 b. Determine the materials inventory balance at the end of May c. Journaize the summary entry to transfer materials to work in process. d. Comparing as reported in the materials ledger with predetermined order points would enable management to order materials before a(n) causes idle time