Note 5 - Product Warranties

9 Months Ended

Jul. 31, 2022

Notes to Financial Statements

Product Warranty Disclosure [Text Block]

(5) Product Warranties

As of July 31, 2022 and October 31, 2021, the Company’s accrual for estimated product warranty claims totaled $75,000 and is included in accounts payable and accrued expenses. Warranty claims expense for the three months and nine months ended July 31, 2022 totaled $24,071 and $47,606, respectively. Warranty claims expense for the three months and nine months ended July 31, 2021 totaled $4,443 and $60,714, respectively.

The following table summarizes the changes in the Company’s accrual for product warranties during the nine months ended July 31, 2022 and 2021:

	Nine Months Ended
	July 31,
	2022			2021
Balance at beginning of period	$	75,000		$	85,000
Liabilities accrued for warranties issued during the period		98,392			86,287
Warranty claims and costs paid during the period		(47,606	)		(50,714	)
Changes in liability for pre-existing warranties during the period		(50,786	)		(25,573	)
Balance at end of period	$	75,000		$	95,000