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Inventories
 9 Months Ended
Dec. 31, 2017
Inventory Disclosure [Abstract]  
Inventories

NOTE 3 — INVENTORIES

 

    December 31, 2017     March 31, 2017  
Raw materials   $ 20,755,116     $ 16,714,225  
Finished goods – net     14,027,696       13,086,855  
                 
Total   $ 34,782,812     $ 29,801,080  

 

As of December 31, and March 31, 2017, 9% of raw materials and 4% and 7%, respectively, of finished goods were located outside of the United States.

 

In the nine months ended December 31, 2017, the Company acquired $6,634,271 of bulk whiskey in support of its anticipated near and mid-term needs.

 

The Company estimates the allowance for obsolete and slow-moving inventory based on analyses and assumptions including, but not limited to, historical usage, expected future demand and market requirements.

 

Inventories are stated at the lower of weighted average cost or net realizable value.