please answer each question A substantive response should be a minimum of 3-6 well-structured sentences

Unit 3 Discussion#2: The Closing Process 15 pts Not Submitted Due Nov 17, 2021 at 11:59 PM Submission Types Discussion Comment Submission & Rubric & > Description Explain the process of closing the books. What are permanent accounts, and are they closed in the closing process? Why or why not? Unit 4 DQ1: Perpetual and Periodic systems 15 pts Discuss briefly the difference between the perpetual inventory system and the periodic inventory system and how is the amount of inventory determined when the periodic system is used? (15 Points) Unit 4 DQ2: Inventory Costing Methods 15 pts During a period of rising prices which inventory costing method will result in the highest gross profits and why? (15 Points)