Multiple Select Question Select all that apply Which of the following statements about the A-B-C approach is/are true? Multiple select question. C items are the most closely managed, while A items are least important. It is intended to help firms allocate control efforts based on the relative importance of items in inventory. Approximately 10% to 20% of items account for about 60% to 70% of annual dollar value. Its purpose is to identify inventory items that are the most important to the business