Yes, ROLLS is a Scrabble word!

Letter values in Scrabble US: R 1, O 1, L 1, L 1, S 1.

Is it a valid word?

ROLLS is a valid word in the official Scrabble dictionary (US), the UK Scrabble Dictionary and Words with Friends (ENABLE).

rotary motion of an object around its own axis
a list of names
a long heavy sea wave as it advances towards the shore
photographic film rolled up inside a container to protect it from light
a round shape formed by a series of concentric circles (as formed by leaves or flower petals)
a roll of currency notes (often taken as the resources of a person or business etc.)
small rounded bread either plain or sweet
a deep prolonged sound (as of thunder or large bells)
the sound of a drum (especially a snare drum) beaten rapidly and continuously
a document that can be rolled up (as for storage)
anything rolled up in cylindrical form
the act of throwing dice
walking with a swaying gait
a flight maneuver; aircraft rotates about its longitudinal axis without changing direction or losing altitude
the act of rolling something (as the ball in bowling)

move by turning over or rotating
move along on or as if on wheels or a wheeled vehicle
occur in soft rounded shapes
flatten or spread with a roller
emit, produce, or utter with a deep prolonged reverberating sound
arrange or or coil around
begin operating or running
shape by rolling
execute a roll, in tumbling
sell something to or obtain something from by energetic and especially underhanded activity
move in a wavy pattern or with a rising and falling motion
move about aimlessly or without any destination, often in search of food or employment
move, rock, or sway from side to side
cause to move by turning over or in a circular manner of as if on an axis
pronounce with a roll, of the phoneme /r/
boil vigorously
take the shape of a roll or cylinder
show certain properties when being rolled

Also: axial rotation, axial motion, rolling wave, drum roll, turn over, roll out, roll up.