eBook 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 Unit Quantity Amount Date Quantity Amount price 27 270 $8 May 1 380 $6 $2,280 May 4 380 V 6 2,280 v 101 430 May 10 33 180 10 10 May 21 Feedback 114 250 May 27 Check My Work a. Calculate the amount of each materials issue, using FIFO in the Balance section; separate each different unit price and its quantity b. Determine the materials inventory balance at the end of May Check My Work b. Calculate the amount of nach materials issue, using FIFO in the Balance section, separate each different unit price and its quantity Check My Work AD work saved Previous Next Save and Exit Submit Assignment for Gra eBook b. Determine the materials inventory balance at the end of May. Feedback Check My Work b. Calculate the amount of each materials issue, using FIFO. In the Balance section, separate each different unit price and its quantity c. Journalize the summary entry to transfer materials to work in process. If an amount box does not require an entry, leave it blank. 88 Feedback Check My Work c increase work in process and decrease materials for the total of issuances found in Reg a d. Comparing Feedback as reported in the materials ledger with predetermined order points would enable management to order materials befor causes idle time. Check My Work d. What is the benefit of having materials as needed? Fac Check My Work Partially correct Check My Work