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 Receiving Materials Report Quantity Requisition Quantity Amount Price Number Number Balance Unit Date Quantity Unit price Amount May 1 390 $8 $3,120 27 270 310 Mary 4 105 440 May 10 llllll 33 180 12 May 21 118 260 May 22 b. Determine the materials inventory balance at the end of May, c. Journalire the summary entry to transfer materials to work in process Next > Check My Work Save and Submit Assignment for Gradine 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. Next Check My Work