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.

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 Number Quantity Amount Date Quantity Amount price May 1 250 $6 $1,500 22 180 $8 May 4 250 G 1,500 180 1,440 105 280 $ 29,400 x D 2,600 May 10 May 21 28 120 10 2,600 280 x 325 x 120 327 * 8 10 10 1,200 118 170 20,060 X May 27 3,270 x Feedback 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. 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