Which of the following is NOT a true statement?

• Companies in the merchandising sector of the economy typically have one type of inventory which is comprised of products in their original purchased form.

• Companies in the service sector of the economy typically do not hold inventories of tangible products.

• Companies in the manufacturing sector of the economy typically hold one type of inventory.

• Companies in the manufacturing sector of the economy typically have direct materials inventory, work-in-process inventory, and finished goods inventory.