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 Unit Receiving Report Number Quantity Unit Price Materials Requisition Quantity Number Amount Date Quantity Amount price May 1 300 $9 $2,700 27 210 $11 May 4 300 9 2,700 105 340 X May 10 33 140 13 May 21 118 200 May 27 Feedback b. Determine the materials inventory balance at the end of May. S Feedback C. Journalize the summary entry to transfer materials to work in process. If an amount box does not require an entry, leave it blank. Feedback Feedback C. Journalize the summary entry to transfer materials to work in process. If an amount box does not require an entry, leave it blank. Feedback d. Comparing as reported in the materials ledger with predetermined order points would enable management to order materials before an) causes idle time. Feedback Feedback