Inventories, net

6 Months Ended

Apr. 19, 2024

Inventory Disclosure [Abstract]

Inventories, net

Note 2 – Inventories, net:

Inventories are comprised of the following at the respective period ends:

	April 19, 2024		November 3, 2023
Meat, ingredients, and supplies	$	10,949	$	12,244
Work in progress		1,489		1,507
Finished goods		26,837		26,822
	$	39,275	$	40,573

Inventories are valued at the lower of cost (which approximates actual cost on a first-in, first-out basis) or net realizable value. Inventories include the cost of raw materials, labor, and manufacturing overhead. We regularly review inventory quantities on hand and write down any estimated excess, obsolete inventories, or impaired balances to net realizable value. An inventory reserve is created when potentially slow-moving or obsolete inventories are identified in order to reflect the appropriate inventory value. Changes in economic conditions, production requirements, and lower than expected customer demand could result in additional obsolete or slow-moving inventory that cannot be sold or must be sold at reduced prices and could result in additional reserve provisions. We maintain a net realizable value reserve of $385 as of April 19, 2024, and $513 as of November 3, 2023, on products in inventory after determining that the market value on some meat products could not cover the costs associated with completion and sale of the product.