INVENTORIES (Tables)

9 Months Ended

Mar. 31, 2022

INVENTORIES [Abstract]

Inventories

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

	March 31, 2022		June 30, 2021
Finished jewelry:
Raw materials	$	1,469,003	$	1,476,514
Work-in-process		1,279,987		779,593
Finished goods		11,386,771		8,025,816
Finished goods on consignment		2,258,071		2,050,372
Total finished jewelry	$	16,393,832	$	12,332,295
Loose jewels:
Raw materials	$	1,692,819	$	1,775,505
Work-in-process		8,285,457		9,893,443
Finished goods		5,714,303		4,942,192
Finished goods on consignment		328,167		154,968
Total loose jewels		16,020,746		16,766,108
Total supplies inventory		88,846		74,317
Total inventory	$	32,503,424	$	29,172,720

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

	March 31, 2022		June 30, 2021
Short-term portion	$	13,440,016	$	11,450,141
Long-term portion		19,063,408		17,722,579
Total	$	32,503,424	$	29,172,720