Schenn gave Arizona a 1-0 lead at 9:23 of the first period with a power-play goal. Max Domi fed Schenn the puck at the top of the right circle and Schenn ripped a slap shot that ricocheted off three Kings, including goalie Peter Budaj, before finding the net.
The Kings evened the score at 1 with six seconds left on a power play when Teddy Purcell directed a snap pass by Derek Forbort past Coyotes goalie Mike Smith at 12:01 of the first period.
Ryan White gave the Coyotes a 2-1 lead at 18:25 of the first period with a goal that capped a two-on-one rush with Brad Richardson.
Los Angeles needed just 15 seconds of the second period to tie the score again. That's when Trevor Lewis tipped a shot from the right point by Tom Gilbert past Smith.
Domi quickly regained the lead for Arizona by beating Budaj with a shot from a sharp angle at 0:37 of the second period, just 22 seconds after the Kings had tied the score.
Stefan Fournier made it a 4-2 lead for the Coyotes when he banged a rebound past Budaj late in the second period.
The Kings pulled to within 4-3 with another power-play goal at 5:01 of the third period, but prospect Michael Bunting bumped Arizona's lead to 5-3 with a goal that capped a two-on-one rush with Richardson at 14:59.
"It was quite fun getting to step into my first NHL preseason game, just get to take it all in," Bunting said. "The pace was really good and I had a lot of fun out there."
Smith stopped 11 of the 13 shots he faced before being replaced by Louis Domingue with 6:14 left in the second period. Domingue stopped 20 of 21 shots.
KINGS 4, COYOTES 3
Los Angeles beat Arizona, 4-3, in a split-squad preseason game on Monday night at Staples Center in Los Angeles that began 30 minutes after the game between the two teams in Glendale started.
Connor Murphy, Henrik Samuelsson and Dylan Strome scored for the Coyotes, who trailed 3-1 after two periods.
Arizona goalies Justin Peters and Marek Langhamer each made 14 saves.
