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What is the actual purpose of ABC Assignment Criteria in Perform ABC Assignments

The client manages over 7000 master items in PIM and for cycle counting, if ABC assignment group is assigned(criteria - current on-hand quantity) then each day there will be many items to be counted. Assume, 3000 items to be counted a day which will not be possible. So here, the customer wants to know if there is a way to reduce that effort on the number of items to be counted on each day.

Also, one more doubt If there are three classes A, B, C. The cycle counting first completes the entire counting of items(counts per year) in class A and then moves to class B and C or it will be done simultaneously?

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