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Accounting Procedures Allow a Business to Evaluate Their Inventory at LIFO

Question 11

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 alternate hypothesis? A) H<sub>1</sub>: µ<sub>F</sub> = µ<sub>L</sub> B) H<sub>1</sub>: µ<sub>F</sub> neq µ<sub>L</sub> C) H<sub>1</sub>: µ<sub>F</sub> \le µ<sub>L</sub> D) H<sub>1</sub>: µ<sub>F</sub> > µ<sub>L</sub>
What is the alternate hypothesis?


A) H1: µF = µL
B) H1: µF neqneq µL
C) H1: µF ≤\le µL
D) H1: µF > µL

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