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Inventories - net

12 Months Ended

Jun. 30, 2013

3. Inventories – net

The components of inventories include the following:

	June 30, 2013			June 30, 2012

Raw materials	$	628,956		$	578,089
Work in process		493,536			485,429
Finished goods		874,311			522,281
Reserve for obsolescence		(226,122	)		(72,415	)
	$	1,770,681		$	1,513,384

During fiscal years 2013 and 2012 the Company evaluated all reserved items and disposed of $9,174 and $33,800, respectively, of parts and wrote them off against the reserve.

- 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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