Oriole Paper Company $($OPC$)$ produces newsprint in its paper mills. At the end of $2024,$ OPC's chief financial officer noted that the international market price of newsprint had dropped significantly. The average cost of production for newsprint in $2024$ was $$523$ per tonne. The average selling price for newsprint in January $2025$ was $$508$ per tonne. OPC has also been working to trim its production costs, hoping that they can be reduced to $$498$ per tonne in $2025.$

$($b$)$

If OPC has $1,257$ tonnes of newsprint on hand on December $31,2024,$ what amount should be reported for ending inventory on the statement of financial position?

Ending inventory $?$