The lite Umbraco website consists of many different parts that consume memory, the most typical, with the exception of the iis service itself, will be
- entrance
- Web services
- Search service (it can be a web service).
- Scheduled Tasks
- data caching
- Custom asp.net code, i.e. if you have any custom dlls or code in the app_code folder
- ...
I would start by looking in the event viewer, seeing if there are any exceptions thrown by your web applications, if web applications usually collect a lot of garbage information that comes up on iisreset.
The next step is to check all user codes and configure logging levels. When you're done, I profile the application with a memory profiler, there are a few, but the red gates know about their high quality tools (www.red-gate.com/Memory_Profiling).
And ... 300-500 MB of memory is not much from a website running .net with content caching, image conversions, etc., keeping your expectations real. Spontaneously, I would say that you are in the normal range.
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