Fit for Life (FFL) operates a fitness center and snack lounge. The following is a partial list of FFL transactions during its year ended December 31. FFL adjusts its records only at year-end.

Jan.	6		Purchased and received 60 nutritional bars for $100, n/45.
Jan.	8		FFL sold 70 nutritional bars to Big Jim for $424 cash, which includes $40 of sales tax.
Apr.	30		FFL received $56,600 from Commerce Bank after signing a 24-month, 3 percent, promissory note.
Aug.	31		FFL signed a 6-month contract to sublease a portion of its building. FFL also received a $16,800 check for six months rent.
Dec.	30		FFL paid employees net pay through December 31, using direct deposits totaling $4,060, for 250 total hours at a $20 hourly wage. The company had withheld FICA of $340, United Way contributions of $180, and income tax of $420.
Dec.	31		FFL adjusted the accounts at year-end, relating to (a) employer payroll taxes, including FICA and $190 of unemployment taxes, (b) interest, and (c) rent.

Calculate the cost of goods sold on January 8, assuming FFL began the year with an inventory of 60 nutritional bars at a unit cost of $1.50 ($90 total cost), had no other inventory transactions prior to January 6 and 8, and reports its inventory costs using FIFO. (Do not round intermediate calculations.)