Please explain each step

Cost of Materials Issuances Under the FIFO Method An incomplete subsidiary ledger of materials inventory for May is as follows: Balance a. Complete the materials issuances and balances for the materials subsidiary ledger under FIFO, Received Issued Receiving Materials Unit Report Quantity Requisition Amount Quantity Price Number Number Date Quantity Quantity Unit price Amoun Amount May 1 230 55 51.150 24 160 $7 May 103 260 May 10 30 110 9 May 21 116 150 May 27 b. Determine the materials inventory balance at the end of May, c. Journalize the summary entry to transfer materials to work in process. If an amount box does not require an entry, leave it blank 100 5 May 4 103 260 May 10 30 110 9 May 21 llll 116 150 May 27 b. Determine the materials inventory balance at the end of May. c. Journalize the summary entry to transfer materials to work in process, an amount box does not require an entry leave it blank d. Comparing as reported in the material ledger with predetermined order points would enable management to order materials before a(a) causes idle time