Note 8 - Fair Value Measurements

3 Months Ended

Jan. 31, 2023

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, 2023 and October 31, 2022 for cash, trade accounts receivable, other receivables, current installments of long-term debt, accounts payable and accrued expenses, and 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, excluding current installments, approximate fair value based on long-term debt issues available to the Company as of January 31, 2023 and October 31, 2022. 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.