Canova Corporation adopted the dollar$-$value LIFO retail method on January $1,2024.$ On that date, the cost of the inventory on hand was $$25,000$ and its retail value was $$31,250.$ Information for $2024$ and $2025$ is as follows:

Date Ending Inventory at Retail Retail Price Index Cost$-$to$-$Retail Percentage

$12/31/2024$ $ $52,0001\mathrm{.}3084\%$

$12/31/2025$ $ $60,0001\mathrm{.}2885\%$

Required:

What is the cost$-$to$-$retail percentage for the inventory on hand at $1/1/2024?$

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.

Required $2$

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.