Inventory balances for the Herman Enterprises in January 2023 are as follows: Raw materials Work in process Finished goods Jan 1, 2023 $ 27,000 48,000 108,000 Jan 31, 2023 $21,000 37,200 90,000 During January, purchases of direct materials were $36,000. Direct labor and factory overhead costs were $60,000 and $84,000, respectively. What is January's cost of goods manufactured? o $196,800 o $190,800 o $186,000 o $194,000 o $214,800