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 $000) for five products both ways. Based on the following results, is LIFO more effective in keeping the value of his inventory lower? 
This example is what type of test?
Definitions:
Production Processes
The sequence of operations or steps involved in manufacturing a product or delivering a service, from raw material to final product.
Production Rate
The speed at which products are manufactured or produced within a given time frame.
Volume Flexibility
The ability of a manufacturing or service system to economically adjust its output in response to fluctuations in demand.
Variety Flexibility
The ability of a manufacturing system or company to quickly adapt its operations to produce a wide range of products.
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