Question 4 (2 points) Costing methods are designed to: 1) compute inventory profits 2) determine which costs to include in inventory 3) compute the cost of goods sold during the year and cost of goods on hand at year end 4) all of the above Question 5 (2 points) When a physical count of year-end inventory yields a dollar amount lower than the balance in inventory, the difference is recorded as inventory error. 1) True 2) False