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Canova Corporation adopted the dollar-value LIFO retail method on January 1, 2021. On that date, the cost of the Inventory on hand was $12,000 and its retall value was $16,000. Information for 2021 and 2022 is as follows: Date 12/31/2021 12/31/2022 Ending Inventory at Retail $26,80 $36, eee 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 1/1/2021? 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 1 Required 2 What is the cost-to-retail percentage for the inventory on hand at 1/1/2021? Cost-to-retail percentage Required 1 Required 2 > Required 1 Required 2 Calculate the inventory value at the end of 2021 and 2022 using the dollar-value LIFO retail method. (Round your answers to the nearest whole dollar amount.) 2021 2022 Ending inventory (Required 1 Required 2 >