Cost of goods sold account is G/L account which has Primary Cost element. This will be maintained in OBYC settings for the valuation class maintained in Material Master Accounting 1 view.
Discuss about this G/L with MM & FICO consultants.
During Settlement, no FI entries will happen as settlement will create only Controlling documents. Check the Allocation Structure Settlement cost element & discuss the same with FICO consultant.
You can get the Settlement Profile assigned to PM order type in OIOA. Check the allocation structure maintained in Settlement Profile in IMG - Plant Maintenance and Customer Service - Maintenance and Service Processing - Basic Settings - General Order Settlement - Maintain Settlement Profile / Maintain Allocation structure
These are related to MM & FICO consultants. So, discuss with them before doing any changes / corrections.