1-Why closing of the fiscal year is necessary? (Use examples and at least 250 words)

2-Explain your understanding of accounts payable as it relates to vendors. (Use examples and at least 250 words)

3- Explain your understanding of sales invoices. (Use examples and at least 250 words)

4- Explain your understanding of the inventory cost methods - Average cost, LIFO and FIFO. (Use examples and at least 250 words)

5- Explain your understanding of the various payroll tax deductions. (Use examples and at least 250 words)