Inventory

9 Months Ended

Mar. 27, 2020

Inventory is stated at the lower of cost (first-in, first-out) or net realizable value, and consists of materials, labor and overhead. On a quarterly basis, the Company uses consistent methodologies to evaluate inventory for net realizable value. Once an item is written down, the value becomes the new inventory cost basis. The Company reduces the value of inventory for excess and obsolete inventory, consisting of on-hand inventory in excess of estimated usage. The excess and obsolete inventory evaluation is based upon assumptions about future demand, historical usage, product mix and possible alternative uses. Inventory was comprised of the following:


	March 27, 2020		June 30, 2019
Raw materials	$	95,054	$	84,561
Work in process	49,127		38,525
Finished goods	17,677		14,026
Total	$	161,858	$	137,112