Com plc bought 500 items of inventory at the price of $20 per item on 1 January 20X2, and another 200 items at the price of $25 per item on 1 July 20x2. On 31 December 20X2, the replacement cost was $30 per item. On that date, Com plc sold 600 items and reported a profit of $11,500 using the first-in-first-out (FIFO) method to calculate the cost of sales. What would the profit be under replacement cost accounting? Select one: O a. $11,500 O b. $18,000 O c. $6,000 O d. $5,500 O e. $3,000 O f. $12,500