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Inventories net
 12 Months Ended
Jun. 30, 2022
Inventories net  
Inventories, net

4. Inventories, net

 

The components of inventories include the following:

 

 

 

June 30,

2022

 

 

June 30,

2021

 

Raw materials

 

$3,019,156

 

 

$3,908,630

 

Work in process

 

 

2,243,907

 

 

 

2,473,070

 

Finished goods

 

 

3,052,001

 

 

 

3,467,105

 

Allowance for obsolescence

 

 

(1,329,637)

 

 

(1,189,218)

 

 

$6,985,427

 

 

$8,659,587

 

 

During fiscal 2022 and 2021, the Company evaluated all allowed items and disposed of approximately $457,000 and $157,000, respectively, of inventory parts and wrote them off against the allowance for obsolescence.

 

The value of tooling in raw materials, net of the related allowance for obsolescence, was approximately $1.6 million and $2.0 million at June 30, 2022 and 2021, respectively.