INVENTORIES (Notes)

12 Months Ended

Jun. 30, 2018

Inventory Disclosure [Abstract]

Inventories

As of June 30, 2018 and 2017, the Company’s inventory was valued using the lower of last-in, first-out (“LIFO”) cost or market.  If the first-in, first-out (“FIFO”) method of inventory accounting had been used by the Company for inventories valued at LIFO there would be no change in the value of inventory at June 30, 2018 and 2017. 

The components of inventories at June 30, 2018 and 2017 were as follows:

	2018			2017
Raw materials	$	2,717,862		$	2,900,499
Finished goods	6,057,703			7,895,561
	8,775,565			10,796,060
Reserve for obsolete inventory	(2,636,886		)	(2,450,717		)
Total inventories	$	6,138,679		$	8,345,343