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. Issued Balance Received Receiving Report Quantity Number Unit Unit Price Materials Requisition Number Quantity Amount Date Quantity Amount price May 1 380 $9 $3,420 25 270 $11 May 4 380 9 3,420 270 11 2,970 11 103 430 $ 3,760 X May 10 220 11 2,420 31 180 13 May 21 220 11 2,420 180 13 2,340 116 250 2,940 x May 27 80 X 13 1,040 x Feedback b. Determine the materials inventory balance at the end of May