Note 6 - Inventory

3 Months Ended

Jul. 31, 2023

Notes to Financial Statements

Inventory Disclosure [Text Block]

6. Inventory

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. 

Inventory is comprised of the following, net of the estimate for obsolete inventory of $275 at July 31, 2023 and $275 at April 30, 2023.

	July 31, 2023		April 30, 2023
Parts and raw material	$	5,683	$	5,704
Work in process		3,305		3,194
Finished goods		59		49
Total Inventory, net of allowance	$	9,047	$	8,947