Cost of Materials Issuances Under the FIFO Method An incomplete subsidiary ledger of materials inventory for May is as follows: Balance a. Complete the materials issuances and balances for the materials subsidiary ledger under FIFO. Received Issued Receiving Materials Unit Report Quantity Requisition Quantity Amount Date Price Number Number Quantity Unit price Amount May 1 390 $5 $1,950 25 270 $7 May 4 390 5 1,950 270 7 1,890 101 440 2,390 X May 10 170 X 7 31 180 9 May 21 114 260 May 27 Wacky Work a. Calculate the amount of each material issue, using FIFO. In the Balance section separate each different unit price and its quantity b. Determine the materials inventory balance at the end of May