Compute cost of goods sold by the cost-of-goods-sold model. 3. Prepare the income statement of

(Computing cost of goods sold and preparing the income statementperiodic system) Use the data in Short Exercise S6A-1 to do the following for Parkland Technologies: 1. Post to the Inventory and Cost of Goods Sold accounts. 2. Compute cost of goods sold by the cost-of-goods-sold model. 3. Prepare the income statement of Parkland Technologies through gross profit.

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