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Inventories

3 Months Ended

Sep. 30, 2013

Note 2.

Inventories

The components of inventory were approximately as follows:


	September 30, 2013			June 30, 2013
Parts inventory	$	1,050,000		$	951,000
Work in process		231,000			196,000
Finished goods		181,000			263,000
Less: Reserve for obsolescence		(30,000	)		(30,000	)
Total	$	1,432,000		$	1,380,000

- 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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