Which of the following is true regarding periodic inventory systems? Periodic inventory systems are widely used by companies like car dealerships Periodic inventory systems have been made obsolete due to technologies such as bar-coded and stock-keeping unit (SKU) systems Most public companies regulated by the SEC are required to use periodic inventory systems Companies that use a periodic inventory system always know how much inventory is on hand Removing an old furnace before construction of a new building begins should be charged to an expense account. True False