I backup my iPhone 4sregularly. I recently needed to reset it back to factory settings. However, the only restore options I had in iTunes were two backups from just minutes before I did the reset. How do I find other restore selections?
They don't exist. Backups are incremental; that is, a new backup is created by just saving changes from the previous backup. If you have an iCloud backup it saves the 3 most recent. But on your computer it saves only the most recent and the most recent of the previous iOS version.
For the future, if you have a Mac, you can force a new backup by going to iTunes Preferences, Devices tab. Right click on a back and choose "Archive" from the floating menu. The next backup will be from scratch. You can also restore a previous backup from Time Machine.
You can sort of do this with Windows if you regularly back up your user data.
How to restore a previous backup?
