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 Requisition Quantity Amount Date Price Number Number Quantity Unit price Amount May 1 380 $8 $3,040 22 270 $10 May 4 380 8 3,040 270 10 2,700 103 430 May 10 220 10 2,200 28 180 12 May 21 220 10 2,200 180 12 2,160 116 250 May 27 150 12 1,800 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. 1,800 Feedback Check My Work b. Calculate the amount of each materials issue, using FIFO. In the Balance section, separate each different unit price and its quantity. C. Journalize the summary entry to transfer materials to work in process. If an amount box does not require an entry, leave it blank. Work in Process Materials