Recognize revenue and calculate COGS under different inventory costing methods.

Sales Details	Units Sold	Sales Price per Unit ($)	Direct Materials per Unit ($)	Direct Labor per Unit ($)
Product A	10,000	$100	$40	$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.

Discuss the impact of inventory costing methods on financial statements and decision-making.