Ben operates a grocery store and wishes to maximise his assessable income for the current year. Which of the following would he use to value his closing stock at 30 June 2020?

Cost using LIFO method of valuation $26,700

Cost using FIFO method of valuation $34,500

Market selling value $46,000

Cost using average cost method of valuation $37,400

Replacement value $33,000

Which value should he use to maximise his assessable income?

a.$37,400

b.$46,000

c.$34,500

d.$33,000

e.$26,700