Annual report pursuant to Section 13 and 15(d)

Inventories

v3.21.2
Inventories
12 Months Ended
Jun. 30, 2021
Inventory Disclosure [Abstract]  
Inventories
6. Inventories Inventories consists of the following at June 30, 2021 and 2020.

    2021     2020  
             
Finished Goods-ice cream   $ 338,369     $ 195,817  
Raw materials - ingredients     14,760       26,309  
Packaging     59,010       53,479  
Allowance for unsaleable product     (24,403 )     -  
TOTAL   $ 387,736     $ 275,605  

      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.