Which one of the following statements about the use of a continuous inventory system is INCORRECT?

A、In a retail organisation, a continuous inventory system can be used to keep track of the quantity of each stock item available in its distribution centres;

B、Under continuous inventory, the cost of each receipt of inventory and the cost of each issue from inventory is recorded individually;

C、A continuous inventory system removes the need for periodic physical inventory counts;

D、Both the FIFO and average cost (AVCO) methods of pricing inventory may be used within a continuous inventory system