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Inventories
 3 Months Ended
Jun. 30, 2018
Inventory Disclosure [Abstract]  
Inventories

NOTE 3 — INVENTORIES

 

    June 30, 2018     March 31, 2018  
Raw materials   $ 23,359,828     $ 21,015,172  
Finished goods – net     14,633,985       13,540,381  
                 
Total   $ 37,993,813     $ 34,555,553  

 

As of June 30, and March 31, 2018, 7% and 9%, respectively, of raw materials and 4% and 3%, respectively, of finished goods were located outside of the United States.

 

In the three months ended June 30, 2018, the Company acquired $4,142,505 of bulk bourbon 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.