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Inventories

6 Months Ended

Jun. 30, 2011

2. Inventories

Inventories are valued at the lower of cost or market, with cost being determined using the average cost method. At June 30, 2011 and December 31, 2010, inventories consisted of the following:


	Unaudited		Audited
	June 30,		December 31,
	2011		2010

Packaging	$	202,623	$	54,980
E-Commerce packaging		131,411		117,445
Merchandise		18,343		45,599
Store supplies		42,060		22,941


Total Inventory	$	394,437	$	240,965

Packaging inventory consists of labels, boxes, bags and gel packs for packaging and shipping baked goods, while merchandise inventory consists of logoed hats, t-shirts and aprons primarily used as employee uniforms, and mugs, books and plastic tiers for sale in the retail stores. Store supplies consist of paper goods, decorating materials, and other miscellaneous supplies purchased in bulk and consumed in daily operations.

- 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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