XML 22 R10.htm IDEA: XBRL DOCUMENT v3.19.1

Inventories

9 Months Ended

Mar. 31, 2019

Inventory Disclosure [Abstract]

INVENTORIES

NOTE 3 – INVENTORIES

The inventories consist of the following:

		March 31, 2019				June 30, 2018
Raw materials		$	864,150			$	1,225,830
Work-in-process			785,888				766,119
Finished goods			1,701,482				1,355,774
Less: inventory reserve			(964,789	)			(983,165	)
Total		$	2,386,731			$	2,364,558

Work-in-process includes direct costs such as seed selection, fertilizer, labor cost and subcontractor fees that are spent in growing agricultural products on the leased farmland, and indirect costs which include amortization of the prepayment of the farmland lease fees and farmland development costs. All the costs are accumulated until the time of harvest and then allocated to harvested crop costs when they are sold.

X

- References

No definition available.

+ Details

Name:	us-gaap_InventoryDisclosureAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- 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://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 330
-URI http://asc.fasb.org/topic&trid=2126998

+ Details

Name:	us-gaap_InventoryDisclosureTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration