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Yes it is possible. 21.354 inches is very precise but could be inaccurate.
One that is heavily rushed and given almost no thought to.
Definition of Precision: Referring to how close a group of measurements are to each other. Accuracy: Refers to how close the measurement is to the true or accepted value. If the volume of the water was 20 L and I measured it wrong one and got 19, measured it again and got 19, and then measured it a third time and got 19, that would be a PRECISE measurement, since you got the same result three times in a row. It's INACCURATE because it isn't the CORRECT measurement. Hope that helped!
the precision of the least precise measuement
The precision of a calculated answer is limited by the least precise measurements used in the calculation.