That depends on whether your business is ongoing. If you deduct the cost and don't have revenue, your business taxes will be lower, that includes income tax and 15% SE tax (for schedule C businesses.) An itemized charitable deduction only reduces your income tax, not your SE tax, and only if your total itemized deductions are more than your standard deduction.
If you closed the business, and have no revenue, and you want to treat these purchased items as personal purchases, then you might see more benefit as a personal deduction.
However, the donation value is your cost, or the current FMV, whichever is lower. If your inventory is not worth now, what you paid for it then, you can't deduct the purchase price. That will depend on what it is, it's age and condition, and the market. (For example, a 2017 model flat screen TV will not be worth it's 2017 price in 2019, even if it is mint in box.)
