INVENTORIES (Notes)

6 Months Ended

Dec. 31, 2012

The components of inventories at December 31, 2012 and June 30, 2012, were as follows:



	December 31, 2012			June 30, 2012
Raw materials	$	4,223,824		$	3,922,643
Work-in process	71,592			32,045
Finished goods	6,459,849			6,311,414
	10,755,265			10,266,102
Reserve for obsolete inventory	(938,083		)	(869,752		)
Total inventories	$	9,817,182		$	9,396,350

- 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.

+ References+ Details