Assume Baxter Manufacturing begins January with 11 units of inventory that cost $12 each. During January, purchases and goods sold were as follows.

Jan 5

Purchased 8 units at $14

7

Sold 12 units

15

Purchased 6 units at $16

30

Sold 15 units

Using the FIFO inventory costing method and the perpetual system, what would be cost of goods sold for the sale on January 7?