Cost of Materials Issuances Under the FIFO Method An incomplete subsidiary ledger of materials inventory for May is as follows a. Complete the material issuances and balances for the materials subsidiary ledger under FIFO Received Issued Balance Receiving Report Number Quantity Unit Price Materials Requisition Number Quantity Amount Date Quantity Unit price Amount 220 51.620 27 190 50 May 1 May 4 100 310 May 10 33 130 10 May 21 III 121 100 May 22 b. Determine the materials inventory balance at the end of May c. Journalize the summary entry to transfer materials to work in process. If an amount box does not require an entry, leave it blank. b. Determine the materials inventory balance at the end of May. Journalize the summary entry to transfer materials to work in process. If an amount box does not require an entry, leave it blank. d. Comparing as reported in the materials ledger with predetermined order points would enable management to order material before(n) Causes idle time