1. Tesla Inc.
   • Requirement 1: Calculate the Cost of Goods Sold (COGS) using the FIFO method for Tesla Inc. with the following data:
     • Beginning Inventory: 2,000 units @ $100 per unit
     • Purchases:
       • January: 5,000 units @ $120 per unit
       • July: 3,000 units @ $130 per unit
   • Sales: 8,000 units
   • Ending Inventory: 2,000 units
2. Requirement 2: Prepare a common-size income statement for Tesla Inc., expressing each line item as a percentage of net sales.
3. Requirement 3: Calculate the Inventory Turnover Ratio for Tesla Inc. using the formula: Inventory Turnover = Cost of Goods Sold / Average Inventory.
4. Requirement 4: Discuss Tesla Inc.'s approach to revenue recognition for its automotive and energy generation products.
5. Requirement 5: Analyze Tesla Inc.'s investment in research and development and its impact on future profitability.