the periodic inventory system.

Required

a$.$ Prepare a schedule to determine the amount of cost of goods sold.

b$.$ Prepare a multistep income statement.

c$.$ Prepare a single$-$step income statement.

Complete this question by entering your answers in the tabs below.

Prepare a schedule to determine the amount of cost of goods sold.

Note: Amounts to be deducted should be indicated with minus sign.

KING COMPANY

Schedule of Cost of Goods Sold

For the Year Ended December $31,$ Year $2$