Which of the following statements is true about specific-goods pooled LIFO approach?

1. It usually results in large LIFO liquidation.

2. The reduction of one quantity in the pool may be offset by an increase in another.

3. It determines and measures any increases and decreases in a pool in terms of total dollar value.

4. Most companies using a LIFO system prefer specific-goods pooled LIFO approach over dollar-value LIFO.