Framer Brothers 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.(One way is through the website for the sec gov website, under company filling research type framer brothers)

1. For the fiscal year ended JUNE 30, 2017, by how much did the dollar value of inventory previously reported on June 30, 2017 under the LIFO method change to FIFO?

2. Did the change result in an increase or a decrease in the book value of the inventory reported as of June 30, 2017?