Note 8 - Fair Value Measurements

3 Months Ended

Jan. 31, 2022

Notes to Financial Statements

Fair Value Disclosures [Text Block]

(8) Fair Value Measurements

The carrying amounts reported in the condensed consolidated balance sheets as of January 31, 2022 and October 31, 2021 for cash, trade accounts receivable, other receivables, note payable, and accounts payable and accrued expenses, including accrued compensation and payroll taxes, approximate fair value because of the short maturity of these instruments. The carrying values of the Company’s note payable, revolver – noncurrent, and long-term debt approximate fair value based on similar long-term debt issues available to the Company as of January 31, 2022 and October 31, 2021. Fair value is defined as the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.