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 Receiving Materials Unit Unit Report Quantity Requisition Quantity Amount Date Quantity Amount Price price Number Number May 1 200 $5 $1,000 21 140 $7 May 4 200 5 1,000 140 7 980 105 230 A May 10 105 X 735 X 27 90 9 May 21 105 X 7 735 X 90 V 9 810 118 130 May 27 25 X 9 225 X Feedback Check My Work a. Calculate the amount of each materials issue, using FIFO. In the Balance section, separate each different unit price and its quantity. b. Determine the materials inventory balance at the end of May. $ 225 X