INVENTORIES

Inventories consisted of the following:



	June 30, 2019		June 30, 2018
Finished goods	$	220,600	$	231,926
Raw materials, work-in-progress and packaging	144,287		159,599
	$	364,887	$	391,525

At each period end, inventory is reviewed to ensure that it is recorded at the lower of cost or net realizable value. In the twelve months ended June 30, 2019, the Company recorded inventory write-downs of $12,381 in connection with the discontinuance of slow moving SKUs as part of a product rationalization initiative, $10,346 of which was recorded in the three months ended June 30, 2019.

In the twelve months ended June 30, 2018, the Company recorded an inventory write-down of $4,913 in connection with the discontinuance of slow moving SKUs as part of a product rationalization initiative.