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INVENTORIES (Notes)

3 Months Ended

Sep. 30, 2014

INVENTORIES

The components of inventories at September 30, 2014 and June 30, 2014 were as follows:



	September 30, 2014			June 30, 2014
Raw materials	$	5,394,907		$	5,593,159
Work-in process	6,841			—
Finished goods	6,577,205			6,327,221
	11,978,953			11,920,380
Allowance for obsolete inventory	(4,799,958		)	(4,865,448		)
Total inventories	$	7,178,995		$	7,054,932

- Definition

The entire disclosure for inventory. This may include, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the major classes of inventory, and the nature of the cost elements included in inventory. If inventory is stated above cost, accrued net losses on firm purchase commitments for inventory and losses resulting from valuing inventory at the lower-of-cost-or-market may also be included. For LIFO inventory, may disclose the amount and basis for determining the excess of replacement or current cost over stated LIFO value and the effects of a LIFO quantities liquidation that impacts net income.

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