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Question 7 Complete Mark 10.00 out of 10.00 V" Flag question What is the basic premise of ABC inventory analysis? Explain how you perform the analysis to determine A, B, and C items. The ABC principle is based on the observation that a small number of items often dominate the results achieved in any situation. Establish the item characteristics that influence the results of inventory management. Classify items into groups based on the established criteria. Apply a degree of control in proportion to the importance of the group. Comment: