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 Unit Receiving Report Number Quantity Materials Requisition Number Quantity Amount Date Quantity Unit price Amount Price May 1 380 $7 $2,660 22 270 $9 May 4 380 7 2,660 270 9 2,430 105 430 May 10 0 X 9 0 x 28 180 11 May 21 9 180 11 1,980 118 250 O May 27 11 b. Determine the materials inventory balance at the end of May. Feedback Check My Work C. Journalize the summary entry to transfer materials to work in process. If an amount box does not require an entry, leave it blank. Feedback Check My Work d. Comparing as reported in the materials ledger with predetermined order points would enable management to order materials before an) causes idle time