please apply the FIFO method to the following calculations & journal entries below. also please offer some explanations for the calculations, as this is the concept I really need to understand. thank you so much in advance :)

Sierra Company manufoctures soccer balis in two sequential processes: Cutting and Stitching. All direct materiais enter production at the beginning of the cutting process. The following information is available regarding its May inventories. The following additional information describes the company's production activities for May. Problem 20-5A (Algo) Part 1 Required: 1. Compute the amount of ( () production costs transferted from Cutting to Stitching. (b) production costs transferred from Stitching to finished goods, and (c) cost of goods sold. Hint: Compute the total production costs in each department and then subtract the ending inventory to get the amount transferred out of each department: 2. Prepare May 31 journal entries to record the following May activities: a. Raw materials purchases b. Direct materials used c. Indirect materials used d. Direct labor used e. Indirect labor used f. Other overhead costs paid in cash 9. Overhead applied h. Goods transferred from Cutting to Stitching i. Goods transferred from Stitching to finished goods j. Sales (on account) k. Cost of goods sold