Question 3 Krapp Technologies Inc. began 2022 with inventory of S20,000. During the year, Krapp purchased inventory costing $100,000 and sold goods for S140,000, with all transactions on account. Krapp ended the year with inventory of $30,000 1. Joumalize all the necessary transactions under the periodic inventory system. 2. Joumalize all the necessary transactions under the perpetual inventory system. 3. Compute cost of goods sold by the cost-of-goods-sold model. 4. Prepare the December 2022 income statement of Krapp Technologies Inc. through gross profit