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 $1000) for five products both ways. Based on the following results, is LIFO more effective in keeping the value of his inventory lower? What is the null hypothesis? A) µ_F= µ_L, or µ_d= 0 B) µ_F$\neq$ µ_L, or µ_d$\neq$ 0 C) µ_F$\le$ µ_L D) µ_F µ_L

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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 $1000) for five products both ways. Based on the following results, is LIFO more effective in keeping the value of his inventory lower? What is the null hypothesis? A) µ_F= µ_L, or µ_d= 0 B) µ_F$\neq$ µ_L, or µ_d$\neq$ 0 C) µ_F$\le$ µ_L D) µ_F> µ_L

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The Answer of 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 $1000) for five products both ways. Based on the following results, is LIFO more effective in keeping the value of his inventory lower? What is the null hypothesis? A) µ_F= µ_L, or µ_d= 0 B) µ_F$\neq$ µ_L, or µ_d$\neq$ 0 C) µ_F$\le$ µ_L D) µ_F> µ_L

Accounting Procedures Allow a Business to Evaluate Their Inventory at LIFO