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SEGMENT INFORMATION AND GEOGRAPHIC DATA (Tables)
3 Months Ended
Sep. 30, 2021
SEGMENT INFORMATION AND GEOGRAPHIC DATA [Abstract]  
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
 
Net Sales by Geographic Area
The following presents net sales data by geographic area:


Three Months Ended September 30,
 

2021
 
2020
 
Net sales:
       
United States
 
$
9,824,730
   
$
7,499,720
 
International
   
455,581
     
426,573
 
Total
 
$
10,280,311
   
$
7,926,293