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 Balance Receiving Report Number Quantity Unit Price Materials Requisition Number Quantity Amount Date Quantity Unit price May 1 280 $7 26 200 $9 May 4 101 320 May 10 32 130 11 May 21 10 WIL 114 190 May 27 b. Determine the materials inventory balance at the end of May. Toumallahummaryanviaransfer materials to work in process ssuances Under the FIFO Method osidiary ledger of materials inventory for May is as follows: materials issuances and balances for the materials subsidiary ledger under FIFO. ceived Issued Balance Quantity Unit Price Materials Requisition Number Quantity Amount Date Quantity Unit price Amount May 1 280 $7 $1,960 200 $9 May 4 101 320 May 10 130 11 May 21 114 190 May 27 e materials inventory balance at the end of May. summary entry to transfer matenals to work in proce55 26 200 $9 May 1 280 May 4 101 320 32 130 May 10 11 May 21 0 0 114 190 May 27 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 order materials before a(n) as reported in the materials ledger with predetermined order points would enable management to causes idle time