Why is LIFO banned in IFRS?

Related questions

1. How are discontinued operations reported?
2. What is my monthly income?
3. Why LIFO is not recommended by IAS?
4. What are extraordinary items?
5. What is income before extraordinary items?
6. What is included in discontinued operations?
7. What is disposal group?
8. How do u find net income?
9. Which is better FIFO or LIFO?
10. What constitutes a discontinued operation?

Tags

1. #ending
2. #inflation
3. #consist
4. #undervalue
5. #income
6. #purchases
7. #rising
8. #focus
9. #prohibited
10. #statement
11. #shifted
12. #earlier
13. #balance
14. #which
15. #lower
16. #during
17. #prices
18. #inventory
19. #under
20. #sheet
21. #periods
22. #because
23. #therefore
24. #assumed