In a medium saucepan, bring water or stock to a boil. Add farro and simmer; cover 25–30 minutes. Remove from heat and drain any remaining liquid. Let farro cool completely.
Add cooled farro to a large bowl with sliced California strawberries, diced avocado, basil leaves and crumbled goat cheese.
In a small bowl, whisk together remaining ingredients (vinegar through pepper). Pour over farro salad. Gently toss to coat. Serve or refrigerate until ready to serve.