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 FIFCo Balance Issued Received Materials Unit Receiving Unit Amount Requisition Quantity Amount Date Quantity Report Quantity Number Price Number May 1 200 $8 $1,600 May 4 140 $10 104 230 May 10 90 12 May 21 28 May 27 2 130 b. Determine the materials inventory balance at the end of May c. Journalize the summary entry to transfer materials to work in process