1. 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	Amount
   								May 1	210	$5	$1,050
   27	150	$7						May 4
   				102	240	$		May 10
   33	100	9						May 21
   				115	140			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 _________ as reported in the materials ledger with predetermined order points would enable management to order materials before a(n) _______ causes idle time