15. Dollar-value LIFO techniques help protect LIFO layers from erosion.
16. The dollar-value LIFO method measures any increases and decreases in a pool in terms of total dollar value and physical quantity of the goods.
17. A disadvantage of LIFO is that it does not match more recent costs against current revenues as well as FIFO.
18. The LIFO conformity rule requires that if a company uses LIFO for tax purposes, it must also use LIFO for financial accounting purposes.
19. Use of LIFO provides a tax benefit in an industry where unit costs tend to decrease as production increases.
20. LIFO is inappropriate where unit costs tend to decrease as production increases.