Canova Corporation adopted the dollar-value LIFO retail method on January 1, 2018. On that date, the cost of the inventory on hand was $15,000 and its retail value was $18,750. Information for 2018 and 2019 is as follows:

Ending Inventory at Retail: Retail Price Index: Cost-to-Retail PercentageDate:

12/31/18 $25,000 1.25 82%

12/31/19 $28,600 1.30 85%

Required:

Calculate the inventory value at the end of 2018 and 2019 using the dollar-value LIFO retail method.