Can ARC support multiple Close calendars?

Summary:

Is it possible for ARC to run multiple Close calendar formats within the same environment (i.e., a traditional 12 month, 26 periods, 4-4-5, etc...)?

Content (required):

We have a business use case where the data that needs to be reconciled is evaluated on a 2 week basis (i.e., 26 period Close), and the period is the driver behind how they want to extract the data from a date perspective. There are concerns with trying to convert the 26 period format to a traditional 12 given that there are some Closes that span across months under the 26 Period calendar.

Is there a way to run the 26 Period calendar concurrently with a 12 month? This would make applying this rec to our existing environment much easier, if this is possible.