Instructions An incomplete subsidiary ledger of materials inventory for May is as follows: BALANCE RECEIVED ISSUE Materials Receiving Unit Unit Requisition Report Number Quantity Price Number Quantity Amount Date Quantity Price Amount $8,550 May 1 May 4 May 10 May 21 May 27 285 $30.00 40 130 $32.00 91 365 110 38.00 97 100 Required: A. Complete the materials issuances and balances for the materials subsidiary ledger under FIFO B. Determine the materials inventory balance at the end of May C. Journalize the summary entry on May 31 to transfer materials to work in process. Refer to the Chart of Accounts for exact wording of account titles D. Explain how the materials ledger might be used as an aid in maintaining inventory quantities on hand