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SEGMENT INFORMATION AND GEOGRAPHIC DATA (Tables)
 9 Months Ended
Mar. 31, 2019
SEGMENT INFORMATION AND GEOGRAPHIC DATA [Abstract]  
Financial Information by Reportable Segment
Summary financial information by reportable segment is as follows:

  
Three Months Ended March 31, 2019
 
  
Online
Channels
  
Traditional
  
Total
 
Net sales
         
Finished jewelry
 
$
3,189,083
  
$
768,978
  
$
3,958,061
 
Loose jewels
  
973,799
   
2,970,382
   
3,944,181
 
Total
 
$
4,162,882
  
$
3,739,360
  
$
7,902,242
 
             
Product line cost of goods sold
            
Finished jewelry
 
$
1,303,914
  
$
329,465
  
$
1,633,379
 
Loose jewels
  
435,050
   
1,471,133
   
1,906,183
 
Total
 
$
1,738,964
  
$
1,800,598
  
$
3,539,562
 
             
Product line gross profit
            
Finished jewelry
 
$
1,885,169
  
$
439,513
  
$
2,324,682
 
Loose jewels
  
538,749
   
1,499,249
   
2,037,998
 
Total
 
$
2,423,918
  
$
1,938,762
  
$
4,362,680
 
             
Operating income
 
$
502,675
  
$
294,806
  
$
797,481
 
             
Depreciation and amortization
 
$
52,806
  
$
72,993
  
$
125,799
 
             
Capital expenditures
 
$
725
  
$
51,168
  
$
51,893
 

  
Three Months Ended March 31, 2018
 
  
Online
Channels
  
Traditional
  
Total
 
Net sales
         
Finished jewelry
 
$
2,157,503
  
$
1,087,823
  
$
3,245,326
 
Loose jewels
  
864,468
   
2,652,956
   
3,517,424
 
Total
 
$
3,021,971
  
$
3,740,779
  
$
6,762,750
 
             
Product line cost of goods sold
            
Finished jewelry
 
$
985,209
  
$
1,049,192
  
$
2,034,401
 
Loose jewels
  
474,910
   
1,412,983
   
1,887,893
 
Total
 
$
1,460,119
  
$
2,462,175
  
$
3,922,294
 
             
Product line gross profit
            
Finished jewelry
 
$
1,172,294
  
$
38,631
  
$
1,210,925
 
Loose jewels
  
389,558
   
1,239,973
   
1,629,531
 
Total
 
$
1,561,852
  
$
1,278,604
  
$
2,840,456
 
             
Operating loss
 
$
(211,073
)
 
$
(362,075
)
 
$
(573,148
)
             
Depreciation and amortization
 
$
30,905
  
$
92,218
  
$
123,123
 
             
Capital expenditures
 
$
3,289
  
$
66,421
  
$
69,710
 

  
Nine Months Ended March 31, 2019
 
  
Online
Channels
  
Traditional
  
Total
 
Net sales
         
Finished jewelry
 
$
9,662,737
  
$
2,047,218
  
$
11,709,955
 
Loose jewels
  
3,039,410
   
9,887,044
   
12,926,454
 
Total
 
$
12,702,147
  
$
11,934,262
  
$
24,636,409
 
             
Product line cost of goods sold
            
Finished jewelry
 
$
4,050,505
  
$
1,110,541
  
$
5,161,046
 
Loose jewels
  
1,357,084
   
5,068,277
   
6,425,361
 
Total
 
$
5,407,589
  
$
6,178,818
  
$
11,586,407
 
             
Product line gross profit
            
Finished jewelry
 
$
5,612,232
  
$
936,677
  
$
6,548,909
 
Loose jewels
  
1,682,326
   
4,818,767
   
6,501,093
 
Total
 
$
7,294,558
  
$
5,755,444
  
$
13,050,002
 
             
Operating income
 
$
1,393,013
  
$
714,284
  
$
2,107,297
 
             
Depreciation and amortization
 
$
123,945
  
$
231,867
  
$
355,812
 
             
Capital expenditures
 
$
63,575
  
$
273,695
  
$
337,270
 

  
Nine Months Ended March 31, 2018
 
  
Online
Channels
  
Traditional
  
Total
 
Net sales
         
Finished jewelry
 
$
7,264,791
  
$
2,817,940
  
$
10,082,731
 
Loose jewels
  
2,441,440
   
8,984,369
   
11,425,809
 
Total
 
$
9,706,231
  
$
11,802,309
  
$
21,508,540
 
             
Product line cost of goods sold
            
Finished jewelry
 
$
3,499,058
  
$
2,145,236
  
$
5,644,294
 
Loose jewels
  
1,267,400
   
4,742,062
   
6,009,462
 
Total
 
$
4,766,458
  
$
6,887,298
  
$
11,653,756
 
             
Product line gross profit
            
Finished jewelry
 
$
3,765,733
  
$
672,704
  
$
4,438,437
 
Loose jewels
  
1,174,040
   
4,242,307
   
5,416,347
 
Total
 
$
4,939,773
  
$
4,915,011
  
$
9,854,784
 
             
Operating income (loss)
 
$
375,082
  
$
(613,034
)
 
$
(237,952
)
             
Depreciation and amortization
 
$
90,077
  
$
240,901
  
$
330,978
 
             
Capital expenditures
 
$
4,837
  
$
109,630
  
$
114,467
 
Reconciliation of Product Line Cost of Goods Sold to Cost of Goods Sold as Reported in Consolidated Financial Statements
A reconciliation of the Company’s product line cost of goods sold to cost of goods sold as reported in the condensed consolidated financial statements is as follows:

  
Three Months Ended March 31,
  
Nine Months Ended March 31,
 
  
2019
  
2018
  
2019
  
2018
 
Product line cost of goods sold
 
$
3,539,562
  
$
3,922,294
  
$
11,586,407
  
$
11,653,756
 
Non-capitalized manufacturing and production control expenses
  
375,901
   
452,460
   
1,029,669
   
1,081,953
 
Freight out
  
126,438
   
129,182
   
429,227
   
373,185
 
Inventory valuation allowances
  
325,000
   
(248,000
)
  
377,000
   
303,000
 
Other inventory adjustments
  
(216,672
)
  
(140,388
)
  
(312,118
)
  
(886,429
)
Cost of goods sold
 
$
4,150,229
  
$
4,115,548
  
$
13,110,185
  
$
12,525,465
 
Net Sales by Geographic Area
The following presents net sales by geographic area:

  
Three Months Ended March 31,
  
Nine Months Ended March 31,
 
  
2019
  
2018
  
2019
  
2018
 
Net sales
            
United States
 
$
6,991,720
  
$
6,321,849
  
$
21,684,906
  
$
20,042,409
 
International
  
910,522
   
440,901
   
2,951,503
   
1,466,131
 
Total
 
$
7,902,242
  
$
6,762,750
  
$
24,636,409
  
$
21,508,540