Elvis Corp owns 50% of Loretta Corp. Elvis acquired this 70% of Loretta at book value. (Fair value equaled book value equaled the acquisition price at the date of acquisition.) On February 24, 2019, Loretta sold goods costing $1000 to Elvis at a gross profit of 40%. Elvis had 25% of these goods on hand at the end of 2019.

What is the amount of profits in 2018 Elvis ending inventory that must be deferred from this sale?