Canova Corporation adopted the dollar-value LIFO retail method on January 1, 2018. On that date, the cost of the inventory on hand was $12,000 and its retail value was $16,000. Information for 2018 and 2019 is as follows: Date 12/31/18 12/31/19 Ending Inventory at Retail $26,000 $36,000 Retail Price Index 1.30 1.60 Cost-to-Retail Percentage 78% 81% Required 1. What is the cost-to-retail percentage for the inventory on hand at 1/1/18? 2. Calculate the inventory value at the end of 2018 and 2019 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 2018 and 2019 using the dollar-value LIFO retail method. (Round your answers to the nearest whole dollar amount.) 2018 2019 Ending inventory