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

		Sales Value at
Product	Board feet	Splitoff Point	Ending Inventory
2 4's	6,000,000	$0.30 per board foot	500,000 bdft.
2 6's	3,000,000	0.40 per board foot	250,000 bdft.
4 4's	2,000,000	0.45 per board foot	100,000 bdft.
Slabs	1,000,000	0.10 per board foot	50,000 bdft.

Required:

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