Inventory

3 Months Ended

Sep. 29, 2023

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:


	As of
		September 29, 2023		June 30, 2023
Raw materials		$	235,921	$	229,984
Work in process		101,086		81,930
Finished goods		25,903		25,302
Total		$	362,910	$	337,216