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 Price Quantity Amount Number Number Date Quantity Unit price Amount 220 $8 $1,760 22 150 $10 May 1 May 4 o 106 250 May 10 28 100 22 May 21 llll 119 150 May 27 Feb rock My W 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. F TO 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. Foch Che W b. Calculate the amount of each materiais issue, using FIFO. In the Balance section, separate each different unit price and its quantity c. Journalire the summary entry to transfer materials to work in process, Work In Process Materials TO Words . Increase work in process and decrease materials for the total of issuances found in Reg, d. Comparing quantities on hand as reported in the material ledger with predetermined order points would enable management to order materials before an) lack of materials causes idle time