Note 5 - Product Warranties

6 Months Ended

Apr. 30, 2021

Notes to Financial Statements

Product Warranty Disclosure [Text Block]

(5) Product Warranties

As of April 30, 2021 and October 31, 2020, the Company’s accrual for estimated product warranty claims totaled $95,000 and $85,000, respectively, and is included in accounts payable and accrued expenses. Warranty claims expense for the three months and six months ended April 30, 2021 totaled $37,923 and $56,271, respectively. Warranty claims expense for the three months and six months ended April 30, 2020 totaled $48,646 and $11,389, respectively.

The following table summarizes the changes in the Company’s accrual for product warranties during the six months ended April 30, 2021 and 2020:

	Six Months Ended
	April 30,
	2021			2020
Balance at beginning of period	$	85,000		$	120,000
Liabilities accrued for warranties issued during the period		77,122			92,769
Warranty claims and costs paid during the period		(46,271	)		(46,389	)
Changes in liability for pre-existing warranties during the period		(20,851	)		(81,380	)
Balance at end of period	$	95,000		$	85,000