Q2 BC Lumber processes timber into four products. During January the joint costs of processing were $280,000. There was no beginning inventory at the beginning of the month. Production and sales value information for the month were as follows:

Sales Value at

Product Boardmetres splitoff Point Ending Inventory

2 4's 6,000,000 $0.30 per boardmetre 500,000 boardmetre

2 6's 3,000,000 0.40 per boardmetre 250,000 boardmetre

4 4's 2,000,000 0.45 per boardmetre 100,000 boardmetre

slabs 1,000,000 0.10 per boardmetre 50,000 boardmetre

Required:

Determine the value of ending inventory if the physical measures method is used for product costing. Round to 3 decimal places when necessary.