| Inventories |
|
● |
Inventory consists
of the following at March 31, 2021 and June 30, 2020, |
| |
|
March 31,
2021 |
|
|
June 30,
2020 |
|
| Finished goods – ice cream |
|
$ |
194,205 |
|
|
$ |
195,817 |
|
| Raw material – ingredients |
|
|
83,416 |
|
|
|
26,309 |
|
| Packaging |
|
|
67,293 |
|
|
|
53,479 |
|
| TOTAL |
|
$ |
344,914 |
|
|
$ |
275,605 |
|
Inventories are stated at the lower
of cost 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.
|
| 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.
|
|