Wahoo Company, a merchandiser, began operations in 2021. The company uses the LIFO inventory method. During 2021, the company made the following purchases:

DateUnitsUnit Cost15-Jan1,000$5001-May2,000$53017-Jul2,000$5802-Nov4,000$590

The company uses a periodic inventory system. Assume the company sold 6,000 units during year which resulted in $3,000,000 of sales revenue. If the company had used the weighted-average method instead of LIFO, the ending inventory balance for 2021 would have been:

Group of answer choices

less than the ending inventory balance under the LIFO method.

the same as the ending inventory balance under the LIFO method.

greater than the ending inventory balance under the LIFO method