A companys records were destroyed by a fire. The controller was able to ascertain that sales for the nine-month period ending 30/9/2020 were $ 1,250,000. The companys suppliers indicated that raw materials inventory costing $ 500,000 was delivered for this period. The companys statements indicated that the ending raw materials inventory for the previous accounting period was $ 260,000. The company was reimbursed by its insurance company for $ 200,000 worth of raw materials inventory destroyed by the fire. Insurance companies pay 80% of the cost for casualty of this nature. There were no other inventories on hand.

Estimate the cost of direct materials inventory used for this period.