Note 5 - Inventories

6 Months Ended

Oct. 31, 2020

Notes to Financial Statements

Inventory Disclosure [Text Block]

5.

 Inventories: Inventories are priced at the lower of cost, determined on a

first

-in,

first

-out basis, or net realizable value. Inventories include material, labor and factory overhead required in the production of our products.

Inventory obsolescence is examined on a regular basis. When determining our estimate of obsolescence, we consider inventory that has been inactive for

five

years or longer and the probability of using that inventory in future production. The obsolete inventory generally consists of Falcon and Learjet parts and electrical components.  At

October 31, 2020

and

April 30, 2020

, the estimate of obsolete inventory was

$685

 and

$685

 respectively.