Summary Financial Information by Reportable Segment |
Summary financial information by reportable segment is as follows:
|
|
Three Months Ended September 30, 2021
|
|
|
|
Online
Channels
|
|
|
Traditional
|
|
|
Total
|
|
Net sales
|
|
|
|
|
|
|
|
|
|
Finished jewelry
|
|
$
|
4,486,958
|
|
|
$
|
1,199,329
|
|
|
$
|
5,686,287
|
|
Loose jewels
|
|
|
882,847
|
|
|
|
3,711,177
|
|
|
|
4,594,024
|
|
Total
|
|
$
|
5,369,805
|
|
|
$
|
4,910,506
|
|
|
$
|
10,280,311
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Product line cost of goods sold
|
|
|
|
|
|
|
|
|
|
|
|
|
Finished jewelry
|
|
$
|
1,711,224
|
|
|
$
|
623,258
|
|
|
$
|
2,334,482
|
|
Loose jewels
|
|
|
314,105
|
|
|
|
1,745,341
|
|
|
|
2,059,446
|
|
Total
|
|
$
|
2,025,329
|
|
|
$
|
2,368,599
|
|
|
$
|
4,393,928
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Product line gross profit
|
|
|
|
|
|
|
|
|
|
|
|
|
Finished jewelry
|
|
$
|
2,775,734
|
|
|
$
|
576,071
|
|
|
$
|
3,351,805
|
|
Loose jewels
|
|
|
568,742
|
|
|
|
1,965,836
|
|
|
|
2,534,578
|
|
Total
|
|
$
|
3,344,476
|
|
|
$
|
2,541,907
|
|
|
$
|
5,886,383
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating income
|
|
$
|
321,671
|
|
|
$
|
627,662
|
|
|
$
|
949,333
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Depreciation and amortization
|
|
$
|
67,702
|
|
|
$
|
56,510
|
|
|
$
|
124,212
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Capital expenditures
|
|
$
|
59,260
|
|
|
$
|
338,861
|
|
|
$
|
398,121
|
|
|
|
Three Months Ended September 30, 2020
|
|
|
|
Online
Channels
|
|
|
Traditional
|
|
|
Total
|
|
Net sales
|
|
|
|
|
|
|
|
|
|
Finished jewelry
|
|
$
|
3,623,462
|
|
|
$
|
711,876
|
|
|
$
|
4,335,338
|
|
Loose jewels
|
|
|
841,833
|
|
|
|
2,749,122
|
|
|
|
3,590,955
|
|
Total
|
|
$
|
4,465,295
|
|
|
$
|
3,460,998
|
|
|
$
|
7,926,293
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Product line cost of goods sold
|
|
|
|
|
|
|
|
|
|
|
|
|
Finished jewelry
|
|
$
|
1,333,383
|
|
|
$
|
420,906
|
|
|
$
|
1,754,289
|
|
Loose jewels
|
|
|
312,689
|
|
|
|
1,431,233
|
|
|
|
1,743,922
|
|
Total
|
|
$
|
1,646,072
|
|
|
$
|
1,852,139
|
|
|
$
|
3,498,211
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Product line gross profit
|
|
|
|
|
|
|
|
|
|
|
|
|
Finished jewelry
|
|
$
|
2,290,079
|
|
|
$
|
290,970
|
|
|
$
|
2,581,049
|
|
Loose jewels
|
|
|
529,144
|
|
|
|
1,317,889
|
|
|
|
1,847,033
|
|
Total
|
|
$
|
2,819,223
|
|
|
$
|
1,608,859
|
|
|
$
|
4,428,082
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating income
|
|
$
|
774,665
|
|
|
$
|
99,605
|
|
|
$
|
874,270
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Depreciation and amortization
|
|
$
|
54,352
|
|
|
$
|
78,103
|
|
|
$
|
132,456
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Capital expenditures
|
|
$
|
59,250
|
|
|
$
|
42,209
|
|
|
$
|
101,459
|
|
|
Reconciliation of Cost of Goods Sold |
A reconciliation of the Company’s product line cost of goods sold to cost of goods sold as reported in the condensed consolidated financial statements is as follows:
|
|
Three Months Ended September 30,
|
|
|
|
2021
|
|
|
2020
|
|
Product line cost of goods sold
|
|
$
|
4,393,928
|
|
|
$
|
3,498,211
|
|
Non-capitalized manufacturing and production control expenses
|
|
|
342,401
|
|
|
|
329,406
|
|
Freight out
|
|
|
217,506
|
|
|
|
175,338
|
|
Inventory write-off
|
|
|
232,000
|
|
|
|
80,000
|
|
Other inventory adjustments
|
|
|
(169,285
|
)
|
|
|
113,100
|
|
Cost of goods sold
|
|
$
|
5,016,550
|
|
|
$
|
4,196,055
|
|
|