Note 4 - Inventories and Major Vendors

6 Months Ended

Apr. 30, 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):

	April 30, 2023		October 31, 2022
Raw materials and supplies	$	14,485	$	15,238
Work in process		543		439
Finished goods		5,358		5,377
Totals	$	20,386	$	21,054

For the three months ended April 30, 2023, two vendors accounted for 27% and 12% of inventory purchases. For the three months ended April 30, 2022, one vendor accounted for 35% of inventory purchases. For the six months ended April 30, 2023, one vendor accounted for 20% of inventory purchases and one vendor accounted for 32% of inventory purchases for the six months ended April 30, 2022. We have arrangements with these vendors to purchase products based on purchase orders that we periodically issue.