Annual report pursuant to Section 13 and 15(d)

Inventories

v3.20.2
Inventories
 12 Months Ended
Jun. 30, 2020
Inventory Disclosure [Abstract]  
Inventories
6. Inventories ● Inventories consists of the following at June 30, 2020 and 2019.

 

    2020     2019  
Finished Goods-bars   $          -     $ 30,800  
Finished Goods-ice cream     195,817       346,229  
Raw materials - ingredients     26,309       25,477  
Packaging     53,479       3,933  
TOTAL   $ 275,605     $ 406,439  

 

     

Inventories are stated at the lower of cost (FIFO) or net realizable value. The Company periodically reviews the value of items in inventory and provides write-downs or write-offs of inventory based on its assessment of market conditions and the products relative shelf life. Write-downs and write-offs are charged to loss on inventory write down.