On December 31, 20X1, Fern Company adopted the dollar-value LIFO inventory method. All of Fern’s inventories constitute a single pool. The inventory on December 31, 20X1, using the dollar-value LIFO inventory method was $600,000. Inventory data for 20X2 are as follows:

December 31, 20X2, inventory at year-end prices ........... $780,000
Relevant price index at year-end (base year 20X1) .................. 1.20

Required:

Under the dollar-value LIFO inventory method, what would Fern’s inventory be at December 31, 20X2?