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NetSuite Professionals

Does it make sense to anyone why (via UI, Script, or Workflow) that you would use the the Internal ID 'LIFO' to set the Costing Method to 'Specific' on a serialized item (especially when LIFO also maps to 'LIFO' in other areas of NetSuite)? Are they essentially the same thing in practice (for a serialized item) so NetSuite is just re-labeling it in that context?

e.g. on a Serialized Inventory Item the Internal ID 'LIFO' is for 'Specific', but an on Inventory Item 'LIFO' is for 'LIFO'