SIMULATION - You are a functional consultant for a legal entity named Contoso Group (GLCO). You plan to sell new products that will increase in quality over time. You need to implement a solution that uses the Last in, First out (LIFO) inventory model for GLCO. To complete this task, sign in to the Dynamics 365 portal. 

See explanation below.

You need to configure an Inventory Model Group for the new products. 1. For inventory model groups, navigate to Inventory management | Setup | Inventory | Item model groups. 2. Click New to create a new inventory model group. 3. In the Cost method and cost recognition section, configure the Inventory Model setting to Last in, First out (LIFO). 4. Click Save to save the inventory model group.