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Hebrew numerals are considered to be a quasidecimal alphabetic numeral system. It is a method that uses the letters of the Hebrew alphabet for numbers. This is done by adding the numerical value of the letters in order to figure the total amount they are intended to signify.

Hebrew Numberical System

Gematria - A cryptograph which gives, instead of the intended word, its numerical value, or a cipher produced by the permutation of letters. - Normal Value; The 5 final letters have here the same values as their respective initial forms.Jewish Encyclopedia

Absolute value, mispar hechrachi in Hebrew, is also referred to as Normative value. The letters are given the value of its accepted numerical equivalent. The final forms of the letters chaf, mem, nun, pei, and tzadik which are known as chaf sofiet, mem sofiet, nun sofiet, pei sofiet, and tzadik sofiet are used when these letters conclude a word and are generally given the same numerical value of the standard form of the letter.

Each letter in the alefbet has a numerical value. These values can be used to write numbers, as the Romans used some of their letters (I, V, X, L, C, M) to represent numbers. Alef through Yod have the values 1 through 10. Yod through Qof have the values 10 through 100, counting by 10s. Qof through Tav have the values 100 through 400, counting by 100s. Final letters have the same value as their non-final counterparts.Jewish Virtual Library

Some have suggested that the final forms of the letters Kaf, Mem, Nun, Pei and Tzadei have the numerical values of 500, 600, 700, 800 and 900, providing a numerical system that could easily render numbers up to 1000. However, there does not appear to be any basis for that interpretation in Jewish tradition.Judaism 101

In gematria, Mem represents the number 40. Its final form represents 600 but this is rarely used, Tav and Resh (400+200) being used instead.Wikipedia

Hebrew numbers are usually written using the least possible letters and with the largest numerals first, however, any sequence is acceptable. Calculations of the numerical equivalence of letters, words, and phrases are done as well, including personal names.