Canova Corporation adopted the dollar-value LIFO retail method on January 1, 2016. On that date, the cost of the inventory on hand was $15,000 and its retail value was $20,000. Information for 2016 and 2017 is as follows: What is the cost-to-retail percentage for the inventory on hand at 1/1/16? Calculate the inventory value at the end of 2016 and 2017 using the dollar-value LIFO retail method