The Wincarnis is a manufacturer of a tonic wine. The firm has provided the following data for the year 2020: Prime Cost 350,000 Factory General Expenses 120,000 Factory Asset Depreciation 35,000 Insurance 45,000 Net Work in Progress 40,000 Closing Stock of Finished Goods 240,000 Admin Expenses 80,000 It has been established that the insurance is prepaid by $15,000. The insurance is to equally in the factory and the office. The goods produced are to be marked up by 10% in the factory. The factory general expenses are owing by $20,000. Based on the above information, determine the transfer value of the goods produced for the year