Access the 10-K report filed on September 11, 2019, for the fiscal year ended June 30, 2019. There are many ways to access a 10-K report. One way is through the website for the Securities and Exchange Commission (sec.gov). Select "FILINGS" and then pull-down menu select "Company Filing Search." When the search box appears type in FARMER BROTHERS. You will be taken to a page detailing all the filings; type 10-K in the "filing type" filter box at the top of the page, and the filings will be resorted so that the 10-K filings are at the head of the listing.

For this question, refer to the Farmer Brothers 10-K filing for the fiscal year ended June 30, 2015. This 10-K was filed on September 14, 2015 (2015-09-14). During the fiscal year ended June 30, 2015, Farmer Brothers used the LIFO method of accounting for inventory. On page 26 of the 10-K filed for the 2015 fiscal year, the company states: As a result, we recorded 4.9 million in beneficial effect of liquidation of LIFO inventory quantities in cost of goods sold in the fiscal year ended June 30, 2015, which reduced net loss for the fiscal year ended June 30, 2015 by $4.9 million.

1a. Precisely explain the meaning of the sentence quoted above. In other words, what information is being conveyed by this sentence?

1b. Is $4.9 million a significant amount in relation to the net income reported by Farmer Brothers for the fiscal year ended June 30, 2015? Explain.