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*P.S. - The cost-to-retail percentage is 70%.

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SECOND TIME POSTING THIS. PLEASE ANSWER CORRECTLY!!!

Canova Corporation adopted the dollar-value LIFO retail method on January 1,2024 . On that date, the cost of the inventory on hand was $21,000 and its retail value was $30,000. Information for 2024 and 2025 is as follows: Required: 1. What is the cost-to-retail percentage for the inventory on hand at 1/1/2024 ? 2. Calculate the inventory value at the end of 2024 and 2025 using the dollar-value LIFO retail method. Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Calculate the inventory value at the end of 2024 and 2025 using the dollar-value LIFO retail method. Note: Round your answers to the nearest whole dollar amount. Lance-Hefner Specialty Shoppes decided to use the dollar-value LIFO retail method to value its inventory. Accounting records provide the following information: Related retail price indexes are as follows: Required: Determine ending inventory and cost of goods sold using the information provided