Canova Corporation adopted the dollar-value LIFO retail method on January 1, 2021. On that date, the cost of the inventory on hand was $21,000 and its retail value was $28,000. Information for 2021 and 2022 is as follows: Ending Inventory Retail Price Cost-to-Retail Date at Retail Index Percentage 12/31/2021 $39,000 12/31/2022 $48,000 1.30 1.50 788 798 Required: 1. What is the cost-to-retail percentage for the inventory on hand at 1/12021? 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: Required 2 Calculate the inventory value at the end of 2021 and 2022 using the dollar-value LIFO retall method. (Round your answers to the nearest whole dollar amount.) 2021 2022 Ending inventory