Which of the following statements is true of a fixed$-$period system $($FPS$)?$

Group of answer choices

It checks the inventory position on a continuous basis.

It orders sufficient stock at the time of review to bring the inventory position up to the replenishment level $($M$).$

It maintains a constant order quantity every review period.

It orders a fixed quantity of items when the inventory position reaches or drops below the reorder point $($r$).$