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Inventories
6 Months Ended
Dec. 31, 2023
Inventories  
Inventories

5. Inventories

 

The components of inventories include the following:

 

 

 

December 31,

2023

 

 

June 30,

2023

 

Raw materials

 

$3,214,087

 

 

$2,999,879

 

Work in process

 

 

2,954,299

 

 

 

2,909,439

 

Finished goods

 

 

2,495,167

 

 

 

2,626,106

 

Allowance for obsolescence

 

 

(1,143,109)

 

 

(1,124,690)

 

 

$7,520,444

 

 

$7,410,734

 

 

The value of tooling in raw materials, net of the related allowance for obsolescence, was approximately $1.4 million and $1.5 million as of December 31, 2023 and June 30, 2023, respectively.