4. INVENTORY

12 Months Ended

Jun. 30, 2013

At each year end, respectively, the Company had the following inventory:

	Jun. 30, 2013		Jun. 30, 2012

Paint and materials	$	-	$	4,499

Total inventory	$	-	$	4,499

The inventory consisted primarily of paint and pre-fabricated items used in parking lot maintenance, and is valued at a lower of cost or market value. By the end of fiscal year the Company switched exclusively to use of subcontractors and stopped carrying any inventory.

- 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.

+ References+ Details

Firemans Contractors, Inc. 10-K/A