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Inventories
6 Months Ended
Sep. 30, 2018
Inventory Disclosure [Abstract]  
Inventories

NOTE 3 - INVENTORIES

 

    September 30, 2018     March 31, 2018  
Raw materials   $ 25,080,981     $ 21,015,172  
Finished goods - net     15,523,731       13,540,381  
                 
Total   $ 40,604,712     $ 34,555,553  

 

As of September 30 and March 31, 2018, 6% and 9%, respectively, of raw materials and 6% and 3%, respectively, of finished goods were located outside of the United States.

 

In the six months ended September 30, 2018, the Company acquired $7,490,366 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.