12 6.25 points Canova Corporation adopted the dollar-value LIFO retail method on January 1, 2021. On that date, the cost of the inventory on hand was $28,000 and its retail value was $40,000. Information for 2021 and 2022 is as follows: Ending Inventory Retail Price Cost-to-Retail Date at Retail Percentage 12/31/2021 $63,000 1.40 12/31/2022 $72,000 Index 738 eBook 1.50 75% References Required: 1. What is the cost-to-retail percentage for the inventory on hand at 1/1/2021? 2. Calculate the inventory value at the end of 2021 and 2022 using the dollar-value LIFO retail method. Complete this question by entering your answers in the tabs below. Required 1 Required 2 What is the cost-to-retail percentage for the inventory on hand at 1/1/2021? % Cost-to-retail percentage Required 12 Check my work January 1, 2UZI. On that date, the cost of the inventory on nang was $28,000 and its retail value was $40,000. Information for 2021 and 2022 is as follows: 6.25 points Date 12/31/2021 12/31/2022 Ending Inventory at Retail $63,000 $72,000 Retail Price Index 1.40 1.50 Cost-to-Retail Percentage 736 758 eBook References Required: 1. What is the cost-to-retail percentage for the inventory on hand at 1/1/2021? 2. Calculate the inventory value at the end of 2021 and 2022 using the dollar-value LIFO retail method. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Calculate the inventory value at the end of 2021 and 2022 using the dollar-val the nearest whole dollar amount.) 2021 2022 Ending inventory