Quarterly report pursuant to Section 13 or 15(d)

Inventories

v3.21.1
Inventories
 9 Months Ended
Mar. 31, 2021
Inventory Disclosure [Abstract]  
Inventories
5. 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.