On $31$ May $2017,$ the closing inventory at cost for Monster Plc amounted to $376,800.$ The following items were included at cost in the total:

$1)195$ backpacks, which cost $270$ each and normally sold for $400$ each. Owing to a defect in manufacture, they were sold after $31$ May $2017$ at $80\%$ of their normal price. Selling expenses amounted to $10\%$ of the proceeds.

$2)320$ gloves, which cost $55$ each. These too were found to be defective. Remedial work in June $2017$ cost $12$ per glove, and selling expenses were $2$ per glove. They were sold for $67$ each.

What should the inventory value be after considering the above items?