Quarterly report pursuant to Section 13 or 15(d)

Inventories

v3.20.4
Inventories
 6 Months Ended
Dec. 31, 2020
Inventory Disclosure [Abstract]  
Inventories

5. Inventories ● Inventory consists of the following at December 31, 2020 and June 30, 2020,

 

    December 31,
2020		     June 30,
2020		  
Finished goods – ice cream   $ 132,855     $ 195,817  
Raw material – ingredients     23,019       26,309  
Packaging     10,167       53,479  
TOTAL   $ 166,041     $ 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.