Some additional information:
I disabled the Removable Storage service and rebooted the server. Did a quick erase of all the slots and then an inventory. Ran an overwrite backup job and the tape in Slot 5 was used (slot 4 was the last tape that a backup was performed on before I erased all the tapes and the inventory). As I stated in my last post, my understanding is that BE should use the lowest numbered slot if there are multiple tapes available that meet the overwrite or append criteria. What am I doing wrong here?