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Inventories
6 Months Ended
Dec. 31, 2022
Inventories  
Inventories

4. Inventories

 

The components of inventories include the following:

 

 

 

December 31,

2022

 

 

June 30,

2022

 

Raw materials

 

$2,938,153

 

 

$3,019,156

 

Work in process

 

 

2,818,906

 

 

 

2,243,907

 

Finished goods

 

 

2,802,771

 

 

 

3,052,001

 

Allowance for obsolescence

 

 

(1,645,554)

 

 

(1,329,637)

 

 

$6,914,276

 

 

$6,985,427

 

 

The value of tooling in raw materials, net of the related allowance for obsolescence, was approximately $1.5 million and $1.6 million as of December 31, 2022 and June 30, 2022, respectively.