accounting

Retu Mequired information Use the following information for the Problems below. [The following information applies to the questions displayed below) Valley Company's adjusted account balances from its general ledger on August 31, its fiscal year-end, follows. It categorizes the following accounts as selling expenses, sales salaries expense, rent expense-selling space, store supplies expense, and advertising expense. It categorizes the remaining expenses as general and administrative Adjusted Account Balances Debit Credit Merchandise inventory (ending) $ 41,000 Other (non-inventory) assets 130,400 Total liabilities $ 25,000 K. Valley, Capital 104,550 K. Valley. Withdrawals 8,000 Sales 225,600 Sales discounts 2.250 Sales returns and allowances 12.000 Cost of goods sold 74,500 Sales salaries expense 32,000 Rent expense-Selling space 8,000 Store supplies expense 1,500 Advertising expense 13,000 Office salaries expenser 28,500 Rent expense-office space 3,600 office supplies expense 400 Totals $ 355, 150 355,150 Beginning merchandise inventory was $25,400. Supplementary records of merchandising activities for the year ended August 31 reveal the following itemized costs. Invoice cost of merchandise purchases $ 92,000 Purchases discounts received 2,600 Purchases returns and allowances 4,500 Costs of transportation-in 4.600 Compute the company's total cost of merchandise purchased for the year, Cost of Merchandise Purchased Invoice cost of merchandise purchased 110490 Purchases discounts received (2.377 Purchase returns and allowances (5.433) Costs of transportation in 3.000 Total cost of merchandise purchased $ 109,250