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Inventories

3 Months Ended

Sep. 30, 2021

Inventories

4. Inventories

4. Inventories

The components of inventories include the following:

		September 30, 2021				June 30, 2021
Raw materials		$	4,011,350			$	3,908,630
Work in process			2,918,858				2,473,070
Finished goods			2,994,503				3,467,105
Allowance for obsolescence			(1,216,230	)			(1,189,218	)
		$	8,708,481			$	8,659,587

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

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

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