At the end of the year, the c ost of a partly finished  item   was   Rs. 50 0 . The  item  can be finished next year  by  a further expenditure of  Rs. 2 00. The finished  item  can be sold at  Rs. 7 50, subject to payment of  6 % brokerage on selling price.  What  would be  the value of  closing stock  of  this item ?