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Inventories - net
 12 Months Ended
Jun. 30, 2016
Inventory Disclosure [Abstract]  
Inventories - net
3. Inventories – net

 

The components of inventories include the following:

 

   June 30, 2016  June 30, 2015
       
Raw materials  $1,791,791   $1,730,153 
Work in process   1,269,539    919,444 
Finished goods   1,171,343    812,643 
Reserve for obsolescence   (395,864)   (280,863)
   $3,836,809   $3,181,377 

 

During fiscal 2016 and 2015, the Company evaluated all reserved items and disposed of $24,590 and $85,261, respectively, of inventory parts and wrote them off against the reserve for obsolescence.

 

The value of tooling in raw materials was approximately $1.16 million at June 30, 2016 and approximately $1.06 million at June 30, 2015.