You can type the typesize in the options bar or in the Character panel (Window menu).
You're welcome, Brian, I'm happy to help.
When I want an exact type size, I type it in. If I'm not sure, I use Barb's method of "scrubbing" to get to a ballpark size, then adjust in the type size box, as I am one of those people who is disturbed with type sizes such as 238.42. 😊
240 is rather meaningless – in Photoshop you can have Type sizes specified (via Preferences under the Units and Rulers tab ) to pixels, points or millimeters.
Hi @Brian5E06 :
The drop down list is fixed (as far as I know).
In addition to Jane-e's answer, you can also "scrub" to adjust the typesize. Place your cursor over the Type size icon (to the left of the text box in the Properties panel, Options bar or Character panel). You will see a pointing finger with a left/right arrow. Press and hold down the mouse button and drag left or right.
The range (any way you specify it) is 0.01 pt to 1296 pt, so 240 pt is clearly within the available range.