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 Materials Unit Unit Quantity Requisition Quantity Amount Date Quantity Amount Price price Number 200 200 140 $1,000 1,000 980 1,980X May 1 $5 27 140 $7 May 4 5 101 230 150 X May 10 130 X 90 May 21 20 X 630 X 90 9 810 114 130 1,090 | X May 27 70 630 b. Determine the materials inventory balance at the end of May Feedback C. Journalize the summary entry to transfer materials to work in process. Work in Process Materials Feedback d. Comparing quantities on handas reported in the materials ledger with predetermined order points would enable management to order materials before a(n) lack of materialscauses idle time