Cost of Materials Issuances Under the FIFO Method An incomplete subsidiary ledger of materials inventory for May is as follows: Balance a. Complete the materials issuances and balances for the materials subsidiary ledger under FIFO. Received Issued Receiving Materials Unit Report Quantity Price Requisition Quantity Amount Number Number Date Quantity Unit price amount Amount May 1 260 $6 $1,560 22 180 $8 May 4 105 290 May 10 Illlll bil 28 120 10 May 21 118 170 May 27 b. Determine the materials inventory balance at the end of May. b. Determine the materials Inventory balance at the end of May. C. Journalize the summary entry to transfer materials to work in process. d. Comparing as reported in the materials ledger with predetermined order points would enable management to order materials before an) causes idle time