State any three(3) statements with why the Last in First out (LIFO) has an edge over First in First out (FIFO).

Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN:9781337115773
Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Chapter3: Cost Behavior And Cost Forecasting
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State any three(3) statements with why the Last in First out (LIFO) has an edge over First in First out (FIFO).

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