Accounting · Life Cycle Costing

Which TWO of the following statements regarding life cycle costing are true? 1. It includes forecast costs that may turn out to be incorrect. 2. It ignores post-abandonment costs relating to a product. 3. It is not generally used in service industries. 4. It allows managers to make better decisions about launching and discontinuing products, as it shows the costs and revenues associated with a product over its life.