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INVENTORIES

9 Months Ended

Mar. 31, 2013

NOTE 2. INVENTORIES

Inventories are stated at the lower of cost (first-in, first-out) or market and consist of the following:


	March 31, 2013		June 30, 2012
Raw materials	$	1,408,000	$	1,087,000
Work in process		986,000		579,000
Sub-assemblies / Finished components		1,106,000		895,000
Finished goods		246,000		230,000
Total inventories	$	3,746,000	$	2,791,000

- 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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