In this article the price of a medieval shirt is estimated at $3500 (2013):
http://www.sleuthsayers.org/2013/06/the-3500-shirt-history-l...
http://www.sleuthsayers.org/2013/06/the-3500-shirt-history-l...
In the UK today a £40k salary is pretty good, above the median and AVG, so at most a decent tunic cost like £1000 in today's money (at most $1500), probably less. So it the right order of magnitude, but over-estimated.