A firm has inventory on 1/1/2020 of RO 35,000, the purchases during the year amounted to RO 48,000 and the closing inventory is RO 45,000. The firm adopts retail price index and the index on 1/1/2019 stood at 100 and at the end of the year it was 140. The restated value of Inventory would be assuming that the firm follows FIFO method of inventory valuation is O a. RO 59,300 O b. RO 52,500 O c. RO 50,800 O d. RO 56,800