Revenue Recognition

6 Months Ended

Dec. 31, 2022

Revenue Recognition [Abstract]

Revenue Recognition

5.    REVENUE RECOGNITION

The Company disaggregates its net sales by geographical location as it believes it best depicts how the nature, timing and uncertainty of net sales and cash flows are affected by economic factors. The following table summarizes net sales by geographical location:

	Three Months Ended				Six Months Ended
	December 31,				December 31,
	2022		2021		2022		2021
United States	$	2,146,474	$	3,191,867	$	4,873,307	$	6,003,559
Export		1,125,457		1,224,019		1,753,153		2,777,394
Net Sales	$	3,271,931	$	4,415,886	$	6,626,460	$	8,780,953

Deferred revenue relates primarily to consumer and customer warranties. These constitute future performance obligations, and the Company defers revenue related to these future performance obligations. Effective July 1, 2022, the Company decreased its deferral rates from 3% to 2.4% for domestic sales and from 14% to 10% for export sales to reflect recent warranty experience. In the six months ended December 31, 2022 and 2021, the Company recognized revenue which was included in the deferred revenue liability at the beginning of the periods of $210,236 and $335,578 respectively, for performance obligations related to consumer and customer warranties. The deferred revenue liability was $713,101 and $883,564, respectively, as of June 30, 2022 and 2021. The Company estimates that the deferred revenue performance obligations are satisfied within one year to three years and therefore uses that same time frame for recognition of the deferred revenue.

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