A dispensing closure comprising: a cup-shaped measuring chamber including: a bottom wall and an outer side wall; a drain well in said bottom wall; a tubular dispensing stem extending upward from said drain well and having a dispensing orifice at an upper end thereof; a slotted guide wall extending upward from said bottom wall surrounding said drain well; at least one drain port in said drain well; a container attachment structure, extending downward from said bottom wall, for securing the measuring chamber to a squeeze-type product container; and the dispensing closure comprising: a dispensing control lid including: an upper wall; a sealing plug extending down from said upper wall; a tubular guide stem extending downwardly from said upper wall surrounding said sealing plug; and a drain well seal at a terminal end of said guide stem; said guide stem interactable with said guide wall for enabling guided axial movement of said dispensing control lid relative to said measuring chamber; said dispensing control lid being axially movable between: a closed position wherein said sealing plug closes said dispensing orifice and said drain well seal closes said drain well; a fill position wherein said sealing plug is spaced from said dispensing orifice for filling said measuring chamber and said drain well seal still closes said drain well; and a drain position wherein said sealing plug is spaced from said dispensing orifice and said drain well seal is spaced from said drain well to drain flowable product from the measuring chamber. a cup-shaped measuring chamber including: a bottom wall and an outer side wall; a drain well in said bottom wall; a tubular dispensing stem extending upward from said drain well and having a dispensing orifice at an upper end thereof; a slotted guide wall extending upward from said bottom wall surrounding said drain well; at least one drain port in said drain well; a container attachment structure, extending downward from said bottom wall, for securing the measuring chamber to a squeeze-type product container; and the dispensing closure comprising: a bottom wall and an outer side wall; a drain well in said bottom wall; a tubular dispensing stem extending upward from said drain well and having a dispensing orifice at an upper end thereof; a slotted guide wall extending upward from said bottom wall surrounding said drain well; at least one drain port in said drain well; a container attachment structure, extending downward from said bottom wall, for securing the measuring chamber to a squeeze-type product container; and the dispensing closure comprising: a dispensing control lid including: an upper wall; a sealing plug extending down from said upper wall; a tubular guide stem extending downwardly from said upper wall surrounding said sealing plug; and a drain well seal at a terminal end of said guide stem; said guide stem interactable with said guide wall for enabling guided axial movement of said dispensing control lid relative to said measuring chamber; an upper wall; a sealing plug extending down from said upper wall; a tubular guide stem extending downwardly from said upper wall surrounding said sealing plug; and a drain well seal at a terminal end of said guide stem; said guide stem interactable with said guide wall for enabling guided axial movement of said dispensing control lid relative to said measuring chamber; said dispensing control lid being axially movable between: a closed position wherein said sealing plug closes said dispensing orifice and said drain well seal closes said drain well; a fill position wherein said sealing plug is spaced from said dispensing orifice for filling said measuring chamber and said drain well seal still closes said drain well; and a drain position wherein said sealing plug is spaced from said dispensing orifice and said drain well seal is spaced from said drain well to drain flowable product from the measuring chamber. a closed position wherein said sealing plug closes said dispensing orifice and said drain well seal closes said drain well; a fill position wherein said sealing plug is spaced from said dispensing orifice for filling said measuring chamber and said drain well seal still closes said drain well; and a drain position wherein said sealing plug is spaced from said dispensing orifice and said drain well seal is spaced from said drain well to drain flowable product from the measuring chamber.