Davidson company has the following information for August: Cost of direct material used in production $60,000 Direct labor 90,000 Factory overhead 44,000 Work in process inventory, August 1 20,000 Work in process inventory, August 31 16,000 Finished goods inventory, August 1 36,000 Finished goods inventory, August 31 20,000 For August, determine (a) the cost of goods manufactured and (b) the cost of goods sold