Farmer brother 10-K filing for the fiscal year ended June 30, 2018. This 10-K was filed on September 13, 2018 (2018-09-13). During the fiscal year ended June 30, 2018, Farmer Brothers changed their method of inventory accounting from LIFO to FIFO. In Note 3, on pages 79 and 80 of the 10-K, the Company describes the impact of their decision to change their method of accounting for inventory. While Generally Accepted Principles of Accounting (GAAP) allow a company to change accounting methods, the company must satisfy certain carefully stipulated disclosure requirements. If a company changes from LIFO to FIFO as Farmer Brothers did, the company must restate financial statements from all previous years included in their 10-K to reflect the new FIFO method of accounting so that comparisons from year-to-year are consistent and not affected by an underlying change in the choice of the method of accounting. In the case of a change in inventory accounting from LIFO to FIFO, the company must increase (or decrease) the carrying value of the inventory account to reflect their new method of accounting and they must also make a corresponding adjustment to the opening balance of retained earnings.

The following table presents the impact of these changes on the Company's consolidated balance sheet at June 30, 2017: June 30, 2017 (In thousands) As Previously Reported LIFO to FIFO Adjustment Preferable Freight and Warehousing Adjustments Corrections of Freight, Overhead Variances and PPV Retrospectively Adjusted Inventories 56,251 19,675 3,821 43 79,790 Total current assets 117,164 19,675 3,821 43 140,703 Deferred income taxes 63,055 (7,625) (1,480) (17) $ 53,933 Total assets 392,736 12,050 2,341 26 407,153 Retained earnings 221,182 13,444 2,341 26 236,993 Accumulated other comprehensive loss (60,099) (1,394) $ (61,493) Total stockholders' equity 215,135 12,050 2,341 26 229,552 Total liabilities and stockholders' equity 392,736 12,050 2,341 26 407,153 The following tables present the impact of these changes on the Company's consolidated statements of operations for the fiscal years ended June 30, 2017 and 2016: Year Ended June 30, 2017 (In thousands, except per share data). As Previously Reported LIFO to FIFO Adjustment Preferable Freight and Warehousing Corrections of Freight, Overhead Adjustments Variances and PPV Retrospectively Adjusted Cost of goods sold 327,765 1,739 19,835 5,283 354,622 Gross profit 213,735 (1,739) (19,835) (5,283) 186,878 Selling expenses 157,198 $ (19,241) (4,628) $ 133,329 Operating expenses 171,569 (19,241) (4,628) 147,700 Income from operations 42,166 (1,739) (594) (655) 39,178 Income before taxes 40,354 (1,739) (594) $ (655) $ 37,366 Income tax expense 15,954 (663) (226) (250) 14,815 Net income 24,400 (1,076) (368) (405) 22,551 Net income available to common stockholders per common share-basic 1.46 (0.07) (0.02) (0.02) 1.35 Net income available to common stockholders per common share- diluted 1.45 $ (0.07) $ (0.02) $ (0.02) $ 1.34 80 Farmer Bros. Co