Yes, Archimedes. Displace a volume of air equivalent to 300 kg.
First approximation, empty bag of volume (pi/6) D^3
air density about 1.3 kg/m^3
displacing (1.3 kg/m^3) (pi/6)D^3 = 300 kg
D^3= 300/(1.3)(pi/6) = 441 m^3
D = 8 m approximately.
YOU CAN DO THIS MORE ACCURATELY, BUT YOU SEE WE ARE IN THE BALLPARK ALREADY.