Taxpayer conducts a retail business and performed a stocktake on 30 June 2022. - $250,000 - stock on hand (weighted average cost) - $270,000 - stock on hand (FIFO) - $240,000 - stock on hand (replacement value) - $440,000 - stock on hand (market selling value) The taxpayer chose the FIFO method to value the stock on hand at year end. What is the stock on hand opening value under the law that will minimise the taxpayer's taxable income for the 2022 income year? Select one: a. $270,000 b. $250,000 c. $440,000 d. $240,000