Note 12 - Income Taxes (Tables)

12 Months Ended

Oct. 31, 2014

Notes Tables

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

Fiscal year ended October 31, 2014	Current		Deferred			Total
U.S. Federal	$	666,517	$	(370,553	)	$	295,964
State		24,680		(52,971	)		(28,291	)
Totals	$	691,197	$	(423,524	)	$	267,673

Fiscal year ended October 31, 2013	Current			Deferred		Total
U.S. Federal	$	(640,652	)	$	930,956	$	290,304
State		(10,307	)		67,791		57,484
Totals	$	(650,959	)	$	998,747	$	347,788

Fiscal year ended October 31, 2012	Current		Deferred			Total
U.S. Federal	$	1,648,945	$	(491,256	)	$	1,157,689
State		167,160		(67,514	)		99,646
Totals	$	1,816,105	$	(558,770	)	$	1,257,335

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

	Years ended October 31,
	2014			2013		2012
“Expected” tax expense	$	302,797		$	93,605	$	1,320,402
Increase (reduction) in income tax expense resulting from:
Benefits from domestic manufacturing deduction		(61,024	)		—		(177,230	)
Nondeductible compensation		—			93,886		—
State income taxes, net of federal benefit		(23,031	)		39,331		62,936
Loss of permanent deductions due to NOL carryback		—			54,907		—
Other differences, net		48,931			66,059		51,227
Reported income tax expense	$	267,673		$	347,788	$	1,257,335

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

	October 31,
	2014			2013
Deferred tax assets:
Accounts receivable, due to allowances for doubtful accounts and sales returns	$	87,381		$	166,789
Inventories, due to allowance for damaged and slow-moving inventories and additional costs inventoried for tax purposes pursuant to the Tax Reform Act of 1986		1,127,226			951,543
Liabilities recorded for accrued expenses, deductible for tax purposes when paid		527,806			119,054
Share-based compensation expense		163,928			50,541
Investment in Centric Solutions		125,555			137,119
Net operating loss carryforwards		573,926			960,984
Other		75,940			113,579
Total gross deferred tax assets		2,681,762			2,499,609
Deferred tax liabilities:
Plant and equipment, due to differences in depreciation and capital gain recognition		(442,870	)		(687,090	)
Other receivables, due to accrual for financial reporting purposes		(10,768	)		(7,919	)
Total gross deferred tax liabilities		(453,638	)		(695,009	)
Net deferred tax asset	$	2,228,124		$	1,804,600

Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block]

	October 31,
	2014			2013
Unrecognized tax benefits balance at beginning of year	$	198,307		$	221,339
Gross decreases for tax positions of prior years		(41,853	)		(23,282	)
Gross increases for current year tax positions		12,302			250
Unrecognized tax benefits balance at end of year	$	168,756		$	198,307