Perform the Indicated Operation with Fractions

question 37

Short Answer

Perform the indicated operation with fractions.Reduce each to its lowest terms.If the answer is a mixed number,put a space between the whole number and the fraction.
6 5/16 + 5 3/16 = ______

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Definitions:

Ending Inventory

The value of goods available for sale at the end of an accounting period, crucial for calculating cost of goods sold and gross profit.

Pretax Income

The income that a company earns before tax expenses are deducted, often referred to as earnings before tax (EBT).

Understatement

The act of presenting financial figures that are lower than the actual numbers, either intentionally or unintentionally.

LIFO Reserve

The difference in inventory valuation between the Last In, First Out (LIFO) method and another inventory accounting method, such as FIFO (First In, First Out).