v3.20.2
INVENTORY
 3 Months Ended
Sep. 30, 2020
Inventory Disclosure [Abstract]  
Inventory Disclosure [Text Block]

NOTE 3 – INVENTORY

 

Inventory is stated at the lower of cost (computed on a first-in, first-out basis) or net realizable value.  The inventory consists primarily of chemicals, finished goods produced in our plant and products purchased for resale.

 

   

September 30, 2020

    

June 30, 2020

  
   

(Unaudited)

          

Raw Materials

   $ 227,096     $ 263,573  

Finished Goods

     670,015       618,104  

Inventory reserve

     (89,296

)

     (87,006

)

Inventory – net (current and long term)

   $ 807,815     $ 794,671  

 

Our inventory reserve reflects items that were deemed to be defective or obsolete based on an analysis of all inventories on hand.

 

The Company critically reviews all slow moving inventory to determine if it is defective or obsolete.  If not defective or obsolete we present these items as non-current inventory, although all inventory is ready and available for sale at any moment.