INVENTORIES (Tables)

3 Months Ended

Sep. 30, 2019

INVENTORIES [Abstract]

Inventory, Net of Reserves

The Company’s total inventories, net of reserves, consisted of the following as of the dates presented:

	September 30, 2019			June 30, 2019
Raw materials	$	4,351,565		$	4,450,478
Work-in-process		12,266,806			10,871,823
Finished goods		18,639,550			18,557,224
Finished goods on consignment		2,963,009			2,086,084
Supplies inventory		128,645			129,111
Less: inventory reserves		(2,384,000	)		(2,361,000	)
Total	$	35,965,575		$	33,733,720
Short-term portion	$	11,787,226		$	11,909,792
Long-term portion		24,178,349			21,823,928
Total	$	35,965,575		$	33,733,720

Inventories by Product Line Maintained in its Wholesale Distribution Segment

The Company’s total inventories, net of reserves, consisted of the following as of the dates presented:

	September 30, 2019		June 30, 2019
Finished jewelry:
Raw materials	$	772,119	$	643,797
Work-in-process		1,089,875		487,680
Finished goods		6,810,280		6,332,533
Finished goods on consignment		2,700,443		1,867,549
Total finished jewelry	$	11,372,717	$	9,331,559
Loose jewels:
Raw materials	$	3,579,446	$	3,806,681
Work-in-process		11,176,931		10,384,143
Finished goods		9,459,270		9,878,691
Finished goods on consignment		248,566		203,535
Total loose jewels		24,464,213		24,273,050
Total supplies inventory		128,645		129,111
Total inventory	$	35,965,575	$	33,733,720