Which of the following statements about ABC analysis is false?
◦ ABC analysis is based on the presumption that controlling the few most important items produces the vast majority of inventory savings.
◦ In ABC analysis, "A" Items are tightly controlled, have accurate records, and receive regular review by major decision makers.
◦ In ABC analysis, "B" items are not as tightly controlled as "A" items.
◦ In ABC analysis, "C" Items have minimal records, periodic review, and simple controls.
◦ ABC analysis is based on the presumption that all items must be tightly controlled to produce important cost savings.