Note 4 - Inventories and Major Vendors

3 Months Ended

Jan. 31, 2023

Notes to Financial Statements

Inventory Disclosure [Text Block]

Note 4 – 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, 2023		October 31, 2022
Raw materials and supplies	$	14,823	$	15,238
Work in process		615		439
Finished goods		5,499		5,377
Totals	$	20,937	$	21,054

For the three months ended January 31, 2023, two vendors accounted for 12% and 10% of inventory purchases. For the three months ended January 31, 2022, two vendors accounted for 30% and 10% of inventory purchases. We have arrangements with these vendors to purchase products based on purchase orders that we periodically issue.