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4 Inventories, Net

3 Months Ended

Sep. 30, 2013

4 INVENTORIES, NET

Inventories consist of the following:

	September 30, 2013		June 30, 2013
Work in process	$	1,233,434	$	1,041,267
Raw materials		472,422		509,209
Finished goods		600,722		1,071,402
	$	2,306,578	$	2,621,878

The allowance for obsolete inventory as of September 30, 2013 and June 30, 2013 was $388,430 and $386,120, respectively.

- Definition

The entire disclosure for inventory. This may include, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the major classes of inventory, and the nature of the cost elements included in inventory. If inventory is stated above cost, accrued net losses on firm purchase commitments for inventory and losses resulting from valuing inventory at the lower-of-cost-or-market may also be included. For LIFO inventory, may disclose the amount and basis for determining the excess of replacement or current cost over stated LIFO value and the effects of a LIFO quantities liquidation that impacts net income.

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