Use the data below for Cummings LLC to answer the following question: Date Explanation Units Unit Cost Total Cost January 1 Beginning Inventory 7 $6 $42 April 21 Purchase 9 $7 $63 August 22 Purchase 15 $8 $120 Totals 31 $225 Cummings LLC uses FIFO and 8 units are sold during the period. What is cost of goods sold? Use the data below for Cummings LLC to answer the following question: Date Explanation Units Unit Cost Total Cost January 1 Beginning Inventory 7 $6 $42 April 21 Purchase 9 $7 $63 August 22 Purchase 15 $8 $120 Totals 31 $225 Cummings LLC uses FIFO and 8 units are sold during the period. What is cost of goods sold? $49.00 $42.00 $176.00 $64.00