Is it possible to have more than two UOMs for an Item ?

While defining an item, system allows to have two UOMs (Primary & Secondary) with appropriate conversion.

Is it possible to have more than two UOMs i.e three or more., so as to enable us to procure item in any UOM (e.g - EACH/LITRE/KG etc) & Issue Item in any UOM, (To avoid new item creation)

If possible

1. How UOM conversion can be given
2. In what UOM accounting will happen.
3. In what UOM consumption will happen
4. Is it possible to Issue/Consume item in any UOM.....

Please advice us with an example.

Thanks and Regards

Ramesh R