Find my IPhone - Last Location

Is the find my iPhone feature 100% correct in the last location? It says that it was last seen at 11:53 which was when I signed in to the app. It located it at my apartment which I have subsequently turned upside down to try and find. It cannot locate it anymore but says it was last seen at my apartment. I have a hunch that I could have left it at work but the find my iPhone says it was last seen at my apartment after I returned from work. Is there any reason it would glitch and tell me that my phone is in the wrong location? I have literally searched my entire apartment, and office, but cannot find it.