Avery is a business selling new and used cars. On January 1, Avery borrowed $500,000 from Bank. To secure the obligation to repay the loan, Avery signed an agreement granting Bank a security interest in "all the inventory and accounts of Avery, whether now owned or later acquired."

On February 1, Bank filed a financing statement with the Mississippi Secretary of State's office. The financing statement listed Avery as the debtor and Bank as the creditor, and it identified "all personal property" as the collateral.

On February 10, Avery sold a new car to Consumer, who paid cash. At no point during this transaction was Consumer aware of the financial relationship between Avery and Bank.

It is now May 1, and Avery has defaulted on its payment obligation to Bank.

Explain what type of agreement Avery has with Bank and if and how it was perfected. As between Bank and Consumer, who has a superior claim to the car that Avery sold to Consumer?