$1.$ Discuss why do companies offer discount for early payment when granting credit. $2.$ Discuss and give examples of some commonly used discount terms and describe their meaning. $3.$ When offering credit, why do companies want to be paid sooner than later? Describe credit terms used in business and discuss. $4.$ What is Weighted Average Cost method? What type of products will fit into this inventory method and why? $5.$ Define and discuss internal controls over inventory. Include in your discussion why it is important to have strong internal controls over inventory.