LO Calculator 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 250 $8 26 180 $10 May 1 May 4 250 $2,000 2,000 8 180 10 1,800 101 280 May 10 X 32 120 12 May 21 114 170 May 27 a. Calculate the amount of each materials issue, using FIFO. In the Balance section separate each different price and its quantity b. Determine the materials inventory balance at the end of May. Check My Work Previous All works Submit Agent Grading