Currently, Syed & Zhang Customized Manufacturing Ltd. uses weighted-average method for their process costing, as recommended by their previous controller. You are a CPA working for the current Controller, Mr. Stark. Mr. Stark approached you asking you to put together a brief report on how their process costing calculations would change should they choose to adopt the other process costing method FIFO. In your own words, describe the 5 steps needed to complete a production report. Additionally, state whether there would be a difference between the weighted-average method and the FIFO method at each step.