Question: Calculate COGS and recognize revenue under different methods. Sales Details Units Sold Sales Price per Unit ($) Direct Materials per Unit ($) Direct Labor per

Calculate COGS and recognize revenue under different methods.

Sales Details

Units Sold

Sales Price per Unit ($)

Direct Materials per Unit ($)

Direct Labor per Unit ($)

Product A

10,000

$100

$30

$20

Requirements:

Calculate the cost of goods sold (COGS) using the FIFO method.

Determine COGS using the weighted average cost method.

Recognize revenue and calculate gross profit under each method.

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