Introduction to financial accounting

In q 7 how do we know it's overstated or understated or unchanged ? What does that mean ?

Q 8 what is fob destination or shipping point how do we know ?

ORIES-64 peints Inc. sells shrink wrapped boneless turkeys and uses the PERIobrc sider the following: boneless turkeys and uses the PERIODIC inventory method Units Unit Cost -3,500 $7 Beginning inventory inventory November 4 November 15 November 25 Sales totaled 4,00 unts Sale revenye was s16 pLAC Sales totaled 4,000 units Sales revenue was $16 per unit. Ending-inventory on November 30 was counted and had 8,000 units. Compute the following amounts. o You must show calculations to receive full credit 1. Compute cost of goods sold cost under LIFO. Compute cost of goods sold cost un er uro ccounts u oo o 1. un cost of goods sold cost under LIFO wo 2. Compute ending inventory cost under EIEQt 8cco units 76500 lo 3. Compute gross profit using the verage ogst method Cais 4. (The marketval eof grim Si vent rydeclined att endott emot det a kor TAS ory dedlined at the end ot the month due tolack of demand for turkeys after the holiday season. Assume that the company uses EIFO in determining inventory cost and using your answer above, what amount of.ending inven would appear on Pilgrim's balance sheet for these alternatives? what amount of ending inventory Market value $56,000:56 doa Markel vnle : 70.5C tagjgoby the loo" Prices Market value $72,000 . .. 5