Quarterly report pursuant to Section 13 or 15(d)

Inventories

v3.22.1
Inventories
 9 Months Ended
Mar. 31, 2022
Inventory Disclosure [Abstract]  
Inventories
5. Inventories   Inventory consists of the following at March 31, 2022 and June 30, 2021,

 

    March 31,
2022		     June 30,
2021		  
Finished goods – ice cream   $ 172,736     $ 338,369  
Raw material – ingredients     47,021       14,760  
Packaging     72,032       59,010  
Allowance for unsaleable    
-
       (24,403 )
TOTAL   $ 291,789     $ 387,736  

 

      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.