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 Materials Unit Report Quantity Requisition Quantity Unit Amount Price Quantity Number Number price May 1 330 $5 25 230 $7 May 4 Date Amoun $1,650 108 370 May 10 31 160 9 May 21 121 220 May 27 b. Determine the materials inventory balance at the end of May. c. Joumalize the summary entry to transfer materials to work in process