Recognize the limitation of a first-match answer

Repeated identifiers can occur throughout a list, so the first match may not be the one the analysis needs. The source uses changing entries over time to explain why a conventional top-down lookup can return an older record. Re-sorting the source merely to alter the lookup result can create extra maintenance work and interfere with other uses of the same table.

Relate search direction to record order

XLOOKUP can reverse its search direction and inspect entries from the bottom upward. This finds the last matching entry in the current order without physically rearranging the table. However, last is equivalent to most recent only when the records are ordered accordingly. Confirm that assumption before treating the result as the latest information. The useful feature is control over which occurrence is returned, not an automatic understanding of dates hidden elsewhere in the row.

Search from the Bottom When the Last Excel Match Matters