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INVENTORIES, NET

6 Months Ended

Sep. 30, 2014

NOTE 4- INVENTORIES, NET

Inventories are comprised of the following components:

	September 30,		March 31,
	2014		2014
	(unaudited)		(audited)

Finished Goods	$	12,173,479	$	6,187,520
Inventory in Transit		3,572,416		278,093
Inventory Reserve		(688,000)		(638,000)

Inventories, net	$	15,057,895	$	5,827,613

Inventory consigned to a distribution center at September 30, 2014 and March 31, 2014 was $353,201 and was fully reserved at September 30, 2014 and March 31, 2014.

- 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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