Quarterly report pursuant to Section 13 or 15(d)

Inventories

v3.22.0.1
Inventories
 6 Months Ended
Dec. 31, 2021
Inventory Disclosure [Abstract]  
Inventories
5. Inventories   Inventory consists of the following at December 31, 2021 and June 30, 2021,

 

    December 31,
2021		     June 30,
2021		  
Finished goods – ice cream   $ 345,792     $ 338,369  
Raw material – ingredients     42,792       14,760  
Packaging     61,149       59,010  
Allowance for unsaleable     (24,403 )     (24,403 )
TOTAL   $ 425,331     $ 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.