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Inventories, net

12 Months Ended

Jun. 30, 2017

Inventory Disclosure [Abstract]

Inventories, net

4. Inventories, net

The components of inventories include the following:

	June 30, 2017			June 30, 2016
Raw materials	$	2,282,880		$	1,791,791
Work in process		1,654,653			1,269,539
Finished goods		1,904,497			1,171,343
Reserve for obsolescence		(767,454	)		(395,864	)
	$	5,074,576		$	3,836,809

During fiscal 2017 and 2016, the Company evaluated all reserved items and disposed of $90,268 and $24,590, respectively, of inventory parts and wrote them off against the reserve for obsolescence.

The value of tooling in raw materials was approximately $1.6 million at June 30, 2017 and approximately $1.2 million at June 30, 2016.

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- References

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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/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 330
-URI http://asc.fasb.org/topic&trid=2126998

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