Bramble Wood Corporation manufactures desks. Most of the companys desks are standard models that are sold at catalogue prices. At December 31, 2020, the following finished desks appear in the companys inventory:

Finished Desks		Type A			Type B			Type C			Type D
2020 catalogue selling price		$460			$490			$890			$1,040
FIFO cost per inventory list, Dec. 31, 2020		420			480			810			860
Estimated current cost to manufacture (at Dec. 31, 2020, and early 2021)		460			440			790			1,000
Sales commissions and estimated other costs of disposal		40			65			95			130
2021 catalogue selling price		590			550			1,060			1,450
Quantity on hand		15			117			113			110

The 2020 catalogue was in effect through November 2020, and the 2021 catalogue is effective as of December 1, 2020. All catalogue prices are net of the usual discounts. Generally, the company tries to obtain a 20% gross margin on the selling price and it has usually been successful in achieving this. (a) Assume that the company has adopted a lower of FIFO cost and net realizable value approach for the valuation of inventories and applies it on an individual inventory item basis. At what total inventory value will the desks appear on the companys December 31, 2020 SFP?

Inventory $