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 Receiving Report Number Received Quantity Received Unit Price Issued Materials Requisition Number Balance Issued Quantity Issued Balance Balance Unit Balance Amount Date Quantity price Amount May 1 340 $8 $2,720 26 240 $10 May 4 32 160 12 Feedback Check My Work 106 380 May 10 May 21 119 230 May 27 b. Determine the materials inventory balance at the end of May. Feedback Check My Work 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 Check My Work d. Comparing as reported in the materials ledger with predetermined order points would enable management to order materials before a(n) | causes idle time.