An advantage of LIFO is that it assigns the most recent costs to cost of goods sold, and does a better job of matching current costs with revenues on the income statement.

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This statement is true. LIFO (Last-In, First-Out) assigns the most recent costs to cost of goods sold, which means that the costs most closely related to the revenue earned will be matched with that revenue on the income statement. This can provide a more accurate representation of the true cost of goods sold and the profitability of the business.

An Advantage of LIFO Is That It Assigns the Most