i only need answer for part b1

Farmer Culver Industries Inc. is in the business of producing organic foods for sale to restaurants and in local markets. The company uses IFRS and has a June 30 fiscal year end, As an experiment, the company has decided to try raising organic free-range chickens. On May 1, 2020, Farmer Culver purchased 100 new hatchlings for cash at a total cost of $1,040. The company paid cash for feed and labour costs of $ 160 per month to look after the chicks. Their (acceptable) accounting policy is to capitalize these costs. On June 30, the company estimated that the chickens would mature in mid-October. At year end they had a fair value of $1,900 and the company would have to transport the chickens to their customers at an average cost of $3 per chicken On October 30, all 100 chickens had matured and the company sold and shipped 50 of the chickens to one of its key customers for 5 30 per chicken. Transportation costs were $ 3 per chicken, as expected. Prepare the journal entries to record the inventory activity relating to the chickens for the month of May. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter o for the amounts.) Date Account Titles and Explanation Debit Credit May 1 Loss on inventory Due to Decline in NRV 1040 1040 Cash (To record the inventory total costs) 160 May 1 Recovery of Loss on Inventory Due to Decline in NRV 160 Cash (To record the feed and labour costs) (61) Prepare the journal entry to record the inventory activity relating to the chickens for the month of June (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts. Date Account Titles and Explanation Debit Credit June 30