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Inventories | 6 Months Ended
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Dec. 31, 2019
Inventory Disclosure [Abstract] |
Inventories | 6. Inventories Inventories are stated at the lower of cost (first-in, first-out method) or net realizable value and consisted of the following (in millions):
|  | December 31, |  |  | June 30, |
|  | 2019 |  |  | 2019 |
Raw materials and work-in-progress |  | $ | 52.3 |  |  | $ | 110.7 |
Finished goods |  |  | 29.8 |  |  |  | 48.0 |
|  | $ | 82.1 |  |  | $ | 158.7 |
We record a write-down, if necessary, to reduce the carrying value of inventory to its net realizable value. The effect of these write-downs is to establish a new cost basis in the related inventory, which we do not subsequently write up. We also record a liability and charge to cost of revenue for estimated losses on inventory we are obligated to purchase from our contract manufacturers when such losses become probable from customer delays, order cancellations, or other factors. As of December 31, 2019, we transferred $20.9 million of inventory to current assets held for sale. See Note 1 Basis of presentation under the heading Divestiture included in the condensed consolidated financial statements contained elsewhere in this Report.

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- Definition The entire disclosure for inventory. Includes, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the classes of inventory, and the nature of the cost elements included in inventory. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 330 -URI http://asc.fasb.org/topic&trid=2126998 + Details
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