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. Receiving Report Number 40 44 Received Quantity 130 110 Unit Price $32.00 38.00 Materials Requisition Number 91 97 Issued Quantity b. Determine the materials inventory balance at the end of May. $ 365 100 Amount 10 Date May 1 May 4 May 10 May 21 May 27 Quantity 285 Balance c. Journalize the summary entry to transfer materials to work in process. If an amount box does not require an entry, leave it blank. Unit price $30.00 Amount $8,550 10000

Cost of Materisals Insiances Under the firo Method Mincomplete wabsdiey ledper of notenals inventory for May is as follows: a. Compiete the makerials issuances and bolanoes for the materials subvidiary ledger under fro: b. Determine the materals inveritory balance ot the end of May. 4. Journalim the summary ontry to tranafir materials to work in process. If an amount box does not require an entry, leave it blank b. Detamines the matertals infertory balabce at the end of Mar. d. Companing as reported in the materisls ledger with predetermined order poins would enable management to order materiab before ofn). Chries alic time