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Valley Companys adjusted trial balance on August 31, 2015, its fiscal year-end, follows. Debit Credit...

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Accounting

Valley Companys adjusted trial balance on August 31, 2015, its fiscal year-end, follows. Debit Credit Merchandise inventory $ 43,000 Other (noninventory) assets 172,000 Total liabilities $ 49,665 Common stock 57,883 Retained earnings 82,659 Dividends 8,000 Sales 294,120 Sales discounts 4,500 Sales returns and allowances 19,412 Cost of goods sold 113,298 Sales salaries expense 40,294 Rent expenseSelling space 13,824 Store supplies expense 3,529 Advertising expense 25,000 Office salaries expense 36,765 Rent expenseOffice space 3,529 Office supplies expense 1,176 Totals $ 484,327 $ 484,327 On August 31, 2014, merchandise inventory was $34,701. Supplementary records of merchandising activities for the year ended August 31, 2015, reveal the following itemized costs. Invoice cost of merchandise purchases $ 126,420 Purchase discounts received 2,655 Purchase returns and allowances 6,068 Costs of transportation-in 3,900

1. Compute the companys net sales for the year.

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