INVENTORIES (Tables)

6 Months Ended

Dec. 31, 2021

INVENTORIES [Abstract]

Inventories

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

	December 31, 2021		June 30, 2021
Finished jewelry:
Raw materials	$	1,728,266	$	1,476,514
Work-in-process		1,826,826		779,593
Finished goods		10,089,451		8,025,816
Finished goods on consignment		2,316,408		2,050,372
Total finished jewelry	$	15,960,951	$	12,332,295
Loose jewels:
Raw materials	$	1,673,194	$	1,775,505
Work-in-process		8,604,863		9,893,443
Finished goods		5,153,778		4,942,192
Finished goods on consignment		344,337		154,968
Total loose jewels		15,776,172		16,766,108
Total supplies inventory		103,188		74,317
Total inventory	$	31,840,311	$	29,172,720

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

	December 31, 2021		June 30, 2021
Short-term portion	$	12,492,151	$	11,450,141
Long-term portion		19,348,160		17,722,579
Total	$	31,840,311	$	29,172,720