Question 4 (1 point) Perpetual inventory systems provide more timely information than periodic systems. 1) True 2) False Question 5 (1 point) Which of the following would most likely use a periodic inventory system? 1) car dealership 2) heavy metal distributor 3) local handcrafted furniture store 4) computer dealership Question 6 (1 point) Use of the FIFO cost formula means that 1) the ending inventory contains the most recent costs. 2) the periodic costing system is used. 3) the perpetual costing system is used. 4) the ending inventory contains the oldest costs