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hapter 4 Velley Company's adjusted trial balance on August 31, 2017, its fiscal year-end, follows $ 40,000 Herchandise inventory Other (noninventory) assets Total 1iabilities Common stock Retained earnings Dividends Sales Sales discounts Sales returns and allowances Cost of goods sold Sales salaries expense Rent expense-Se1ling space Store supplies expense Advertising expense office salaries expense Rent expense-Office space office supplies expense Totals 46,200 10,000, 121,567 000 273 273,600 ,186 18,058 105, 665 7,483 12,859 3,283 23,256 34,200 3,283 1,094 $451,367$451,367 On August 31, 2016, merchandise inventory was $32.280, Suppl August 31, 2017, reveal the following itemized costs. ementary records of merchandising activities for the year ended Invoice cost of merchandise purchases Purchases discounts received Purchases returns and allovances Costs of transportation-in $117,600 2,470 5, 645 3,900