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Inventories, net

12 Months Ended

Jun. 30, 2021

Inventory Disclosure [Abstract]

Inventories, net

The components of inventories include the following:

		June 30, 2021				June 30, 2020
Raw materials		$	3,908,630			$	3,876,955
Work in process			2,473,070				2,989,070
Finished goods			3,467,105				3,134,800
Allowance for obsolescence			(1,189,218	)			(1,016,343	)
		$	8,659,587			$	8,984,482

During fiscal 2021 and 2020, the Company evaluated all allowed items and disposed of approximately $157,000 and $128,000, respectively, of inventory parts and wrote them off against the allowance for obsolescence.

The value of tooling in raw materials, net of the related allowance for obsolescence, was approximately $2.0 million and $2.3 million at June 30, 2021 and 2020, respectively.

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- References

No definition available.

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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

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