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 Unit Report Quantity Requisition Price Quantity Number Amount Number Balance Amount Balance Quantity Date Quantity Unit price amount Amount 24 May 1 250 $11 360 $9 $3,240 May 4 107 410 May 10 30 170 13 a o May 21 120 240 May 27 . Determine the materials inventory balance at the end of May c. Journalise the summary entry to transfer materials to work in process. If an amount box foes not require an entry, leave it bank 55 d. Comparing s reported in the material ledger with predetermined order points would enable management to order material before ) Cele me