Cost of Materials Issuances Under the FIFO Method Instruction Chart of Accounts Materials Inventory Journal Final Question Instructions An incompleto tubeldiary ledger of materials inventory for May is as follows: RECEIVED ISSUED BALANCE Receiving Report Number Unit Price Materials Requisition Number Quantity Unit Price Quantity Amount Date Amount Quantity 280 $29.90 $0,372 40 131 $32.50 91 371 May 1 May 4 May 10 May 21 May 27 44 114 37.80 02 100 Required: a. Complete the materials issuances and balances for the materials subsidiary ledger under FIFO. Round your unit price answers to two decimal places and final answers to the nearest dollar. b. Determine the materials inventory balance at the end of May. Round your answer to the nearest dollar. CHART OF ACCOUNTS General Ledger ASSETS REVENUE 410 Sales 610 Interest Revenue 110 Cash 121 Accounts Receivable 125 Notes Receivable 126 Interest Receivable 131 Materials 132 Work in Process 133 Factory Overhead 134 Finished Goods 141 Supplies 142 Prepaid Insurance 143 Prepaid Expenses EXPENSES 510 Cost of Goods Sold 520 Wages Expense 531 Selling Expenses 532 Insurance Expenso 533 Utilities Expense 534 Office Supplies Expense 540 Administrative Expenses Chart of Accounts 181 Land 191 Factory 192 Accumulated Depreciation-Factory 560 Depreciation Expense-Factory 590 Miscellaneous Expense 710 Interest Expense LIABILITIES 210 Accounts Payable 221 Utilities Payable 231 Notes Payable 236 Interest Payable 241 Lease Payable 251 Wages Payable 252 Consultant Fees Payable EQUITY 311 Common Stock 340 Retained Earnings 351 Dividends One more bored in a rowd your une pride and paid inlaware to the area, RECEIVED ISSUED BALANCE Racing Materiale Report Une powin Number Quant Price Quantity Am tint Pres Amount 200 40 131 30.50 MY 4 40 May 10 My 11 37.00 1 100 May whether on your newer to the rest Jomade the summary entry on May 3r to transfer materials to work in process. Refer to the chart of accounts for the exact word of the accountries. CNow walu do not use ines for your explanations Every line on a journal page is used for debitor credit entries. CNOW wale wanaowy wident a credit entry where credit amount is entered Round your answers to the nearest dollar PES JOURNAL ACCOUNTING EQUATION DATE DESCRIPTION POST, DENT CREDIT LATES BOUT