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The volume of a cone is given by the formula V = (1/3) * π * r^2 * h, where r is the radius of the base and h is the height of the cone.
In this case, the radius (r) is 6 inches and the height (h) is 8 inches.
V = (1/3) * π * 6^2 * 8
V = (1/3) * π * 36 * 8
V = π * 96
V ≈ 301.6 cubic inches
So, the measurement closest to the volume of the party hat is B) 301.6in^3.