Note 2 - Adopted Accounting Standards Updates

3 Months Ended

Jan. 31, 2018

Notes to Financial Statements

Significant Accounting Policies [Text Block]

2. Adopted Accounting Standards Updates

Effective

November 1, 2017,

we adopted Financial Accounting Standards Board (“FASB”) Accounting Standards Update (”ASU”)

No.

2015

-

11,

“Simplifying the Measurement of Inventory”. The ASU requires entities using the

first

-in,

first

-out (FIFO) inventory costing method to subsequently value inventory at the lower of cost and net realizable value. The ASU defines net realizable value as the estimated selling prices in the ordinary course of business, less reasonably predictable costs of completion, disposal, and transportation. The adoption of this guidance by the Company did

not

have a material impact on its consolidated financial statements.

Effective

November 1, 2017,

we adopted FASB ASU

No.

2015

-

17,

“Balance Sheet Classification of Deferred Taxes”. The ASU requires that deferred tax assets and liabilities be combined and be classified as non-current in a statement of financial position. The adoption of this guidance by the Company did

not

have a material impact on its consolidated financial statements.