Which is better and generally accepted criterion for comparing, evaluating bids for capital equipment: Direct purchase price Or Life Cycle Cost?

Life Cycle costs is prominent factor. Considering which little bit of variation in direct price could be acceptable subjected to management decision. 

I agree with Mr. Imran

Life cycle costing is most frequently associated with environmental purchasing, but in fact has been used successfully in capital equipment acquisitions for many years. LCC is a means of evaluating performance “from the cradle to the grave” and provides a measure of the “total cost of acquisition” or the “total cost of ownership”.