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INVENTORIES, NET

3 Months Ended

Sep. 30, 2024

Inventory Disclosure [Abstract]

INVENTORIES, NET

NOTE 5 – INVENTORIES, NET

The inventories, net consisted of the following:

SCHEDULE OF INVENTORIES, NET

		September 30, 2024				June 30, 2024
Raw materials		$	298,440			$	290,152
Work-in-process			179,097				338,902
Finished goods			1,954,216				989,914
Less: inventory reserve			-				(30,443	)
Total inventories, net		$	2,431,753			$	1,588,525

Work-in-process mainly 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.

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- References

No definition available.

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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/disclosureRef
-Topic 330
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/330/tableOfContent

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