Canova Corporation adopted the dollar-value LIFO retail method on January 1, 2024. On that date, the cost of the inventory on was $15,000 and its retail value was $18,750. Information for 2024 and 2025 is as follows: Date 12/31/2024 12/31/2025 Ending Inventory at Retail Retail Price Index $ 25,000 $ 28,600 1.25 1.30 Cost-to-Retail Percentage 82% 85% Required: 1. What is the cost-to-retail percentage for the inventory on hand at 1/1/2024? 2. 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 1 Required 2 What is the cost-to-retail percentage for the inventory on hand at 1/1/2024? Cost-to-retail percentage Required 1 Required 2 90 % 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. 2024 2025 Ending inventory $ 23,005 $ 29.515 < Required 1 Required 2 >