Upstream costs are classified as product costs and downstream costs are classified as period costs for financial reporting purposes. truefalse

False

Explanation:

Upstream costs are costs that occur before the manufacturing process begins, while downstream costs occur after the manufacturing process ends, e.g. distribution costs, sales commissions, etc.

Both upstream and downstream costs are not considered to be product costs for financial reporting purposes.

88 because 4 plus 4 equals 8. 40 plus 40 equals 80. 80 plus 8 equals 88