A company's business model (product manufactured or sold) does not have to match its choice of inventory method (exceptions are, a car dealer or a diamond merchandiser because each product unit is unique). Therefore, a company can choose to use either FIFO or LIFO regardless of the type of product it manufactures or sells. As a result of this fact: What could be other reasons (other than being required to use one or the other) why a company would choose FIFO over LIFO or vice versa?
For example, a company that sells bananas (perishable product) could decide to use LIFO although it is not logical to do so based on the product it sells. Do you agree with the reasons you stated above? Or, do you think they just add unnecessary complexity to the accounting process? You must know the properties of each method in order to provide an accurate answer. Definitions alone are not acceptable answers, there must be an analysis portion included in your post.