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INVENTORY
 12 Months Ended
Oct. 31, 2017
Inventory Disclosure [Abstract]  
INVENTORY

5. INVENTORY

 

Inventory consists of the following at October 31:

 

 

 

 

 

 

 

 

 

 

    

2017

    

2016

 

Raw materials

 

$

1,442,844

 

$

1,434,854

 

Work in process

 

 

652,296

 

 

696,013

 

Finished goods

 

 

3,747,779

 

 

2,713,716

 

Supplies

 

 

1,221,425

 

 

1,019,962

 

Totals

 

$

7,064,344

 

$

5,864,545

 

 

The Company performs a lower cost or net realizable value analysis on inventory to determine if the market values of certain inventories are less than their carrying value, which is attributable primarily to decreases in market prices of corn and ethanol.  Based on the lower of cost or net realizable value analysis, the Company did not record a loss on ethanol inventories for the fiscal years ended October 31, 2017 or 2016.