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INVENTORIES, NET

9 Months Ended

Mar. 31, 2014

NOTE 2. INVENTORIES, NET

Inventories, net, consisted of the following as of:

	3/31/2014			6/30/2013
Finished goods	$	383		$	321
Raw materials and packaging		114			121
Work in process		2			3
LIFO allowances		(39	)		(40	)
Allowances for obsolescence		(13	)		(11	)
Total	$	447		$	394

- 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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