A dispensing closure for dispensing a flowable product from a squeeze-type product container comprising: a cup-shaped measuring reservoir having a bottom wall, a side wall with an upper peripheral edge, and a plurality of flow ports adjacent said upper peripheral edge, said cup-shaped measuring reservoir having a structure configured to attach said measuring reservoir to said product container and said measuring reservoir for filling with a measured dose of flowable product through said flow ports when inverted; a dispensing cap having an upper deck, an exit orifice, a flow conduit in communication with said exit orifice, and an inner skirt wall having an outer surface in sliding engagement with an inner surface of said side wall of said measuring reservoir, whereby said measuring reservoir and said dispensing cap cooperate to define an adjustable reservoir volume; said dispensing cap being movable relative to said measuring reservoir between a minimum volume dispense position and a maximum volume dispense position, a cup-shaped piston valve having a bottom wall and a valve stem extending within the cup-shaped piston valve and extending upwardly from said bottom wall in a direction toward said flow conduit, said piston valve being slidably movable within the measuring reservoir between: an open position wherein said valve stem is spaced from a valve seat formed at said entrance orifice of said flow conduit whereby flowable product can enter said measuring reservoir through said flow ports and exit through said flow conduit; and a closed position wherein said valve stem is in mating engagement with said valve seat closing said flow conduit, and wherein said piston valve is movable from said open position to said closed position to dispense said measured dose of product responsive to pressure within said container induced by squeezing said container; a coil spring encircling said flow conduit and said valve stem and captured between a lower surface of said upper deck of said dispensing cap and said bottom wall of said piston valve, said spring normally biasing the piston valve to an open position; and a plurality of pressure apertures in a bottom wall of said measuring reservoir, wherein flowable product moves through said pressure apertures when said piston valve is moving between said open and closed positions. a cup-shaped measuring reservoir having a bottom wall, a side wall with an upper peripheral edge, and a plurality of flow ports adjacent said upper peripheral edge, said cup-shaped measuring reservoir having a structure configured to attach said measuring reservoir to said product container and said measuring reservoir for filling with a measured dose of flowable product through said flow ports when inverted; a dispensing cap having an upper deck, an exit orifice, a flow conduit in communication with said exit orifice, and an inner skirt wall having an outer surface in sliding engagement with an inner surface of said side wall of said measuring reservoir, whereby said measuring reservoir and said dispensing cap cooperate to define an adjustable reservoir volume; said dispensing cap being movable relative to said measuring reservoir between a minimum volume dispense position and a maximum volume dispense position, a cup-shaped piston valve having a bottom wall and a valve stem extending within the cup-shaped piston valve and extending upwardly from said bottom wall in a direction toward said flow conduit, said piston valve being slidably movable within the measuring reservoir between: an open position wherein said valve stem is spaced from a valve seat formed at said entrance orifice of said flow conduit whereby flowable product can enter said measuring reservoir through said flow ports and exit through said flow conduit; and a closed position wherein said valve stem is in mating engagement with said valve seat closing said flow conduit, and wherein said piston valve is movable from said open position to said closed position to dispense said measured dose of product responsive to pressure within said container induced by squeezing said container; a coil spring encircling said flow conduit and said valve stem and captured between a lower surface of said upper deck of said dispensing cap and said bottom wall of said piston valve, said spring normally biasing the piston valve to an open position; and a plurality of pressure apertures in a bottom wall of said measuring reservoir, wherein flowable product moves through said pressure apertures when said piston valve is moving between said open and closed positions.