General form of registration statement for all companies including face-amount certificate companies

INVENTORY

v3.21.2
INVENTORY
 9 Months Ended 12 Months Ended
Feb. 28, 2021
May 31, 2020
Inventory Disclosure [Abstract]    
Inventory Disclosure [Text Block]

Note 7 – Inventory


Inventory, consisting of material, overhead, labor, and manufacturing overhead, is stated at the lower of cost (first-in, first-out) or market, and consists of the following:


   

February 28,

   

May 31,

  
   

2021

    

2020

  

Raw materials

   $ 419,462     $ 134,697  

Finished goods

     550,194       440,545  

Total

   $ 969,656     $ 575,242  

Raw materials consist of cannabis plants and the materials that are used in our production process prior to being tested and packaged for consumption.  Finished goods consist of pre-packaged materials previously purchased from other licensed cultivators and the Company’s manufactured edibles and extracts.

NOTE 8 – INVENTORY


Inventory, consisting of material, overhead, labor, and manufacturing overhead, is stated at the lower of cost (first-in, first-out) or market, and consists of the following:


   

May 31,

   

May 31,

  
   

2020

    

2019

  

Raw materials

   $ 134,697     $ 323,635  

Finished goods

     440,545       423,198  

Total

   $ 575,242     $ 746,833  

Raw materials consist of cannabis plants and the materials that are used in our production process prior to being tested and packaged for consumption. Finished goods consist of pre-packaged materials previously purchased from other licensed cultivators and our manufactured edibles and extracts.