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Accounting Procedures Allow a Business to Evaluate Their Inventory at LIFO

Question 29

Multiple Choice

Accounting procedures allow a business to evaluate their inventory at LIFO (Last In First Out) or FIFO (First In First Out) . A manufacturer evaluated its finished goods inventory (in $ thousands) for five products both ways. Based on the following results, is LIFO more effective in keeping the value of his inventory lower? Accounting procedures allow a business to evaluate their inventory at LIFO (Last In First Out) or FIFO (First In First Out) . A manufacturer evaluated its finished goods inventory (in $ thousands) for five products both ways. Based on the following results, is LIFO more effective in keeping the value of his inventory lower? What is the null hypothesis? A) H<sub>0</sub>: µ<sub>F</sub> = µ<sub>L</sub> B) H<sub>0</sub>: µ<sub>F</sub> \neq µ<sub>L</sub> C) H<sub>0</sub>: µ<sub>F</sub> \le µ<sub>L</sub> D) H<sub>0</sub>: µ<sub>F</sub> \ge µ<sub>L</sub>
What is the null hypothesis?


A) H0: µF = µL
B) H0: µF ≠\neq µL
C) H0: µF ≤\le µL
D) H0: µF ≥\ge µL

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