At December 31, 2019 Dumas & Thorpe's inventory records indicated a balance of $1,000,000. Upon further investigation it was determined that this amount included the following:

1. $230,000 in inventory purchases made by D & T, shipped from the seller on 12/27/2019 with terms FOB destination, but not due to be received until January 2^nd;
2. $170,000 in inventory purchases made by D & T on December 31, 2019, with terms FOB Shipping point - and due to be received on January 7, 2020;
3. $35,000 in goods sold by D & T with terms FOB shipping point on December 27^th. The goods are not expected to reach their destination until January 8^th;
4. $15,000 in goods sold by D & T on December 31, 2019, with terms FOB Destination.The goods should reach their destination on January 1, 2020;
5. $25,000 of consigned goods sold on December 29^th, but not expected to reach the buyer until January 2^nd; Goods were shipped FOB Shipping Point;
6. $20 of goods received on consignment on December 31, 2019 at 11:58 p.m.

What is Dumas and Thorpe's correct ending inventory balance at December 31, 2019?