On may 1, beggining inventory consista of 10 items at a cost $10 each.
On May 3, 10 items are purchased at $12 each.
On may 8,12 items are sold.
On may 15, 10 items are purchased at $14 each.
Required:
1. Will Cost of goods sold be higher using a FIFO periodic inventory system or FIFO perpetial inventory system?

this is all on your opinion. you choose what you want to do.

credit history is used by lenders to determine whether you are a 'risky' person to give their money to.

having a short history provide very little data for the lenders. they wouldn't be able to determine your credit behavior from such a small samples. even if they are perfect.

having long credit history with few blemishes provide larger and more accurate data for the lenders to predict your credit behavior.