QUESTION 2. During 2019, Smith Inc. showed a large increase in gross profit on sales, as compared to recent prior years. Your audit senior asks you to figure out the most likely reason for this increase, given that sales had not increased very much from last year. Support your answer. You find this information from Smith's records: 2019 sales (at an average price of $50 a unit) were $2,300,000. 2019 purchases (at an average cost of $30 a unit) were $1,200,000 The company uses the LIFO inventory method and has used it since 1978