Valley Company's adjusted trial balance on August 31, 2015, its fiscal year-end, follows. Merchandise inventory Other (noninventory) assets Total liabilities K. Valley, Capital K. Valley, Withdrawals Sales Sales discounts Sales returns and allowances Cost of goods sold Sales salaries expense Rent expense--Selling space Store supplies expense Advertising expense Office salaries expense Rent expense-Office space Office supplies expense Debit Credit $ 35,000 140,000 $ 40,425 116,611 8,000 239,400 3,663 15,800 92.945 32,798 11,252 2,873 20,349 29,925 2,873 958 I Totals $396,436 $396,436 On August 31, 2014, merchandise inventory was $28,245. Supplementary records of merchandising activities for the year ended August 31, 2015, reveal the following itemized costs On August 31, 2014, merchandise inventory was $28,245. Supplementary records of merchandising activities for the year ended August 31, 2015, reveal the following itemized costs. Invoice cost of merchandise purchases $ 102,900 Purchase discounts received 2,161 Purchase returns and allowances 4,939 Costs of transportation-in 3,900 Required: 1. Compute the company's net sales for the year. Not sales