Which of the following statements regarding inventory are incorrect?
1)Other than the cost, holding inventory is good for operations.
2)Inventories account for between 60 and 80 percent of a typical industrial firm's assets
3)WIP inventory is an acronym for work in process inventories.
4)Safety stock is held to maintain a certain level of service regardless of uncertainty

A) (1) and (4)
B) (2) and (4)
C) (1), (3) and (4)
D) (1)