In the past, Taylor Industries has used a fixed time period inventory system that involved taking a complete inventory count of all items each month. However, increasing labor costs are facing Taylor Industries to examine alternative ways to reduce the amount of labor involved in inventory stockrooms, yet without increasing other costs, such as shortage costs. here is a random sample of 20 of Taylor's items. Which of the following is NOT true in terms of classifying items based on ABC analysis? ANNUAL ITEM ANNUAL ITEM $ USAGE $ USAGE 1 $1,100 11 $2,000 2 11,000 12 21,500 3 1,700 13 26,000 4 3,500 14 136,000 5 96,000 15 1,800 6 1,000 16 193,000 7 2,500 17 2,400 1,900 25,000 9 29,000 19 700 10 3,600 20 31,000 8 18 Number of C item would be eleven Time Left:1:33:16 Luke Brophy: Attempt 1 3 4 5 6 7 8 9 10 11,000 1,700 3,500 96,000 1,000 2,500 1,900 29,000 3,600 12 13 14 15 16 17 18 19 20 21,00 26,000 136,000 1,800 193,000 2,400 25,000 700 31,000 2. Number of C item would be eleven Item 10 would be one of B items. 15 Citem accounts for 3.76% A item accounts for 71.95%. nuectinn Annoint