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SEGMENT INFORMATION AND GEOGRAPHIC DATA (Tables)
 6 Months Ended
Dec. 31, 2020
SEGMENT INFORMATION AND GEOGRAPHIC DATA [Abstract]  
Summary Financial Information by Reportable Segment
Summary financial information by reportable segment for the periods presented is as follows:

  
Three Months Ended December 31, 2020
 
  
Online
Channels
  
Traditional
  
Total
 
Net sales
         
   Finished jewelry
 
$
6,588,338
  
$
1,676,859
  
$
8,265,197
 
   Loose jewels
  
997,939
   
2,883,654
   
3,881,593
 
Total
 
$
7,586,277
  
$
4,560,513
  
$
12,146,790
 
             
Product line cost of goods sold
            
Finished jewelry
 
$
2,863,733
  
$
1,138,413
  
$
4,002,146
 
Loose jewels
  
388,426
   
1,417,177
   
1,805,603
 
Total
 
$
3,252,159
  
$
2,555,590
  
$
5,807,749
 
             
Product line gross profit
            
Finished jewelry
 
$
3,724,605
  
$
538,446
  
$
4,263,051
 
Loose jewels
  
609,513
   
1,466,477
   
2,075,990
 
Total
 
$
4,334,118
  
$
2,004,923
  
$
6,339,041
 
             
Operating income
 
$
1,494,448
  
$
1,026,535
  
$
2,520,983
 
             
Depreciation and amortization
 
$
59,221
  
$
79,384
  
$
138,605
 
             
Capital expenditures
 
$
90,852
  
$
52,350
  
$
143,202
 

  
Three Months Ended December 31, 2019
 
  
Online
Channels
  
Traditional
  
Total
 
Net sales
         
Finished jewelry
 
$
5,144,320
  
$
1,294,027
  
$
6,438,347
 
Loose jewels
  
940,434
   
3,280,309
   
4,220,743
 
Total
 
$
6,084,754
  
$
4,574,336
  
$
10,659,090
 
             
Product line cost of goods sold
            
Finished jewelry
 
$
2,239,750
  
$
724,364
  
$
2,964,114
 
Loose jewels
  
405,869
   
1,675,785
   
2,081,654
 
Total
 
$
2,645,619
  
$
2,400,149
  
$
5,045,768
 
             
Product line gross profit
            
Finished jewelry
 
$
2,904,570
  
$
569,663
  
$
3,474,233
 
Loose jewels
  
534,565
   
1,604,524
   
2,139,089
 
Total
 
$
3,439,135
  
$
2,174,187
  
$
5,613,322
 
             
Operating income
 
$
349,762
  
$
414,163
  
$
763,925
 
             
Depreciation and amortization
 
$
32,773
  
$
76,892
  
$
109,665
 
             
Capital expenditures
 
$
137,200
  
$
71,211
  
$
208,411
 

  
Six Months Ended December 31, 2020
 
  
Online
Channels
  
Traditional
  
Total
 
Net sales
         
   Finished jewelry
 
$
10,211,799
  
$
2,388,735
  
$
12,600,534
 
Loose jewels
  
1,839,772
   
5,632,777
   
7,472,549
 
Total
 
$
12,051,571
  
$
8,021,512
  
$
20,073,083
 
             
Product line cost of goods sold
            
Finished jewelry
 
$
4,197,115
  
$
1,559,320
  
$
5,756,435
 
Loose jewels
  
701,115
   
2,848,410
   
3,549,525
 
Total
 
$
4,898,230
  
$
4,407,730
  
$
9,305,960
 
             
Product line gross profit
            
Finished jewelry
 
$
6,014,684
  
$
829,415
  
$
6,844,099
 
Loose jewels
  
1,138,657
   
2,784,367
   
3,923,024
 
Total
 
$
7,153,341
  
$
3,613,782
  
$
10,767,123
 
             
Operating income
 
$
2,269,113
  
$
1,126,140
  
$
3,395,253
 
             
Depreciation and amortization
 
$
113,573
  
$
157,488
  
$
271,061
 
             
Capital expenditures
 
$
150,129
  
$
94,559
  
$
244,688
 

 
 
Six Months Ended December 31, 2019
 
  
Online
Channels
  
Traditional
  
Total
 
Net sales
         
Finished jewelry
 
$
8,121,667
  
$
2,174,675
  
$
10,296,342
 
Loose jewels
  
1,668,716
   
6,302,453
   
7,971,169
 
Total
 
$
9,790,383
  
$
8,477,128
  
$
18,267,511
 
             
Product line cost of goods sold
            
Finished jewelry
 
$
3,452,623
  
$
1,214,401
  
$
4,667,024
 
Loose jewels
  
671,063
   
3,210,043
   
3,881,106
 
Total
 
$
4,123,686
  
$
4,424,444
  
$
8,548,130
 
             
Product line gross profit
            
Finished jewelry
 
$
4,669,044
  
$
960,274
  
$
5,629,318
 
Loose jewels
  
997,653
   
3,092,410
   
4,090,063
 
Total
 
$
5,666,697
  
$
4,052,684
  
$
9,719,381
 
             
Operating income
 
$
395,427
  
$
521,203
  
$
916,630
 
             
Depreciation and amortization
 
$
82,023
  
$
152,280
  
$
234,303
 
             
Capital expenditures
 
$
210,925
  
$
108,803
  
$
319,728
 
Reconciliation of Cost of Goods Sold
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 December 31,
  
Six Months Ended December 31,
 
  
2020
  
2019
  
2020
  
2019
 
Product line cost of goods sold
 
$
5,807,749
  
$
5,045,768
  
$
9,305,960
  
$
8,548,130
 
Non-capitalized manufacturing and production control expenses
  
395,237
   
427,643
   
724,641
   
817,519
 
Freight out
  
316,542
   
141,233
   
491,881
   
272,352
 
Inventory write-off
  
25,000
   
126,000
   
105,000
   
149,000
 
Other inventory adjustments
  
(376,820
)
  
(210,130
)
  
(263,719
)
  
(379,863
)
Cost of goods sold
 
$
6,167,708
  
$
5,530,514
  
$
10,363,763
  
$
9,407,138
 
Net Sales by Geographic Area
The following presents net sales by geographic area:

  
Three Months Ended December 31,
  
Six Months Ended December 31,
 
  
2020
  
2019
  
2020
  
2019
 
Net sales
            
United States
 
$
11,388,680
  
$
9,643,311
  
$
18,888,399
  
$
16,407,187
 
International
  
758,110
   
1,015,779
   
1,184,684
   
1,860,324
 
Total
 
$
12,146,790
  
$
10,659,090
  
$
20,073,083
  
$
18,267,511