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NOTE 3 - INVENTORY

6 Months Ended

Dec. 31, 2012

NOTE 3 - INVENTORY

Inventory is stated at the lower of cost (computed on a first-in, first-out basis) or market. The inventory consists primarily of chemicals, finished goods produced in our plant and products purchased for resale.

	December 31, 2012			June 30, 2012
	(Unaudited)
Raw Materials	$	330,621		$	201,651
Finished Goods		462,618			385,375
Inventory Reserve		(44,015	)		(33,448	)
Total Inventory	$	749,224		$	553,578

- 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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