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Underwood Company's gross margin percentage increased from 4 0 % to 4 5 % . Which of the following is not a possible explanation for

Underwood Company's gross margin percentage increased from

40 %

45 % .

Which of the following is not a possible explanation for this increase, assuming all other things being equal?

Multiple Choice

Underwood raised its per unit sales price.

Underwood's supplier lowered its per unit price.

Underwood sold more products.

Underwood started taking advantage of purchase discounts.

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