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INVENTORIES (Notes) | 12 Months Ended
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Jun. 30, 2018
Inventory Disclosure [Abstract] |
Inventories | As of June 30, 2018 and 2017, the Company’s inventory was valued using the lower of last-in, first-out (“LIFO”) cost or market. If the first-in, first-out (“FIFO”) method of inventory accounting had been used by the Company for inventories valued at LIFO there would be no change in the value of inventory at June 30, 2018 and 2017. The components of inventories at June 30, 2018 and 2017 were as follows:
|  | 2018 |  | 2017
Raw materials |  | $ | 2,717,862 |  |  | $ | 2,900,499 |
Finished goods |  | 6,057,703 |  |  | 7,895,561 |
|  | 8,775,565 |  |  | 10,796,060 |
Reserve for obsolete inventory |  | (2,636,886 | ) |  | (2,450,717 | )
Total inventories |  | $ | 6,138,679 |  |  | $ | 8,345,343 |

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