INVENTORIES (Tables)

3 Months Ended

Sep. 30, 2021

INVENTORIES [Abstract]

Inventories

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

	September 30, 2021		June 30, 2021
Finished jewelry:
Raw materials	$	1,681,561	$	1,476,514
Work-in-process		2,034,428		779,593
Finished goods		9,993,963		8,025,816
Finished goods on consignment		2,131,244		2,050,372
Total finished jewelry	$	15,841,196	$	12,332,295
Loose jewels:
Raw materials	$	1,683,330	$	1,775,505
Work-in-process		9,058,183		9,893,443
Finished goods		4,783,702		4,942,192
Finished goods on consignment		169,879		154,968
Total loose jewels		15,695,094		16,766,108
Total supplies inventory		78,136		74,317
Total inventory	$	31,614,426	$	29,172,720

As of the dates presented, the Company’s total inventories, net of reserves, are classified as follows:

	September 30, 2021		June 30, 2021
Short-term portion	$	12,043,187	$	11,450,141
Long-term portion		19,571,239		17,722,579
Total	$	31,614,426	$	29,172,720