Cost of Materials issuances Under the FIFO Method An incomplete subsidiary leder of materials inventory for May is as follows: .. Complete the materials suces and balances for the materials utrudy ledger under hero. Received Issue Receiving Materials Unit Report Quantity Requisition Quantity Amount Price Number Number Balance Date Quantity Unit price Amount 390 $9 $3,510 24 270 $11 May 1 May 4 101 440 May 10 May 21 30 llllll 180 III 114 260 May 27 b. Determine the materiali inver I y balance at the end of May. 6. Journalize the summary entry to transfer materials to work in process. If an amount box does not require an entry, leave it blank