materials subsidiary ledger under FIFO Received: Issued Balance Receiving Unit Report Number Quantity Price Materials Requisition Number Quantity Amount Date Quantity Unit price Amount May 1 320 $7 $2,240 24 220 $9 May 41 100 360 May 10 30 150 11 May 21 113 210 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 88 as reported in the materials ledger with predetermined order points would enable management to order materials before a(n) d. Comparing D causes idle time.