 Solution

For a permutation $g$, start with a letter $i$ and follow $i,g(i),g^2(i),\dots$. Finiteness gives a repetition; since $g$ is invertible, the first return is to $i$. The visited letters form a permutation cycle on which $g$ acts by moving to the next letter. If there are letters left, repeat the construction starting with one of them. Its trajectory cannot meet an earlier one, because applying a suitable inverse power of $g$ would put its starting letter in that earlier trajectory. Continuing partitions the letters into disjoint cycles, including fixed points as cycles of length one.

The resulting disjoint permutation cycles have disjoint supports, and their product agrees with $g$ on every letter. This proves the cycle decomposition of a permutation. A power $g^m$ fixes a cycle of length $l$ exactly when $l\mid m$, so if the cycle lengths are $l_1,\dots ,l_t$,The least common multiple is essential: multiplying the lengths would overcount whenever cycles share a factor.