INVENTORIES (Tables)

6 Months Ended

Dec. 31, 2023

INVENTORIES [Abstract]

Inventories

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

	December 31, 2023		June 30, 2023
Finished jewelry:
Raw materials	$	1,409,122	$	1,288,906
Work-in-process		623,300		1,223,670
Finished goods		12,914,517		12,772,611
Finished goods on consignment		2,095,443		2,039,506
Total finished jewelry	$	17,042,382	$	17,324,693
Loose jewels:
Raw materials	$	174,274	$	421,603
Work-in-process		5,450,946		6,131,853
Finished goods		2,627,706		2,294,270
Finished goods on consignment		198,235		254,323
Total loose jewels		8,451,161		9,102,049
Total supplies inventory		268,892		326,834
Total inventory	$	25,762,435	$	26,753,576

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

	December 31, 2023		June 30, 2023
Short-term portion	$	9,879,556	$	7,476,046
Long-term portion		15,882,879		19,277,530
Total	$	25,762,435	$	26,753,576