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 Price Number Number Date Quantity Unit price mount Amount 390 $9 $3,510 May 1 May 4 24 270 $11 101 440 May 10 May 21 30 180 13 III 114 260 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