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INVENTORIES

9 Months Ended

Mar. 31, 2014

NOTE 4 – INVENTORIES

Inventories consist of the following:

	March 31,		June 30,
	2014		2013
Raw materials	$	14,191,674	$	2,784,760
Supplies and packing materials		441,005		473,477
Work in progress		406,829		171,550
Finished goods		57,276,440		31,081,380
Total	$	72,315,948	$	34,511,167

- Definition

The entire disclosure for inventory. This may include, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the major classes of inventory, and the nature of the cost elements included in inventory. If inventory is stated above cost, accrued net losses on firm purchase commitments for inventory and losses resulting from valuing inventory at the lower-of-cost-or-market may also be included. For LIFO inventory, may disclose the amount and basis for determining the excess of replacement or current cost over stated LIFO value and the effects of a LIFO quantities liquidation that impacts net income.

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