Note 2 - Inventories and Major Vendors

3 Months Ended

Jan. 31, 2022

Notes to Financial Statements

Inventory Disclosure [Text Block]

Note 2 – Inventories and major vendors

Inventories, consisting of materials, labor and manufacturing overhead, are stated at the lower of cost or net realizable value. Cost has been determined using the weighted average cost method. Inventories consist of the following (in thousands): 

	January 31, 2022		October 31, 2021
Raw materials and supplies	$	8,648	$	6,422
Work in process		355		381
Finished goods		4,474		4,376
Totals	$	13,477	$	11,179

For the three months ended January 31, 2022, two vendors accounted for 30% and 10% of inventory purchases. No vendors accounted for more than 10% of inventory purchases for the three months ended January 31, 2021. We have arrangements with these vendors to purchase products based on purchase orders that we periodically issue.