Note 5 - Product Warranties

6 Months Ended

Apr. 30, 2020

Notes to Financial Statements

Product Warranty Disclosure [Text Block]

(5) Product Warranties

As of April 30, 2020 and October 31, 2019, the Company’s accrual for estimated product warranty claims totaled $85,000 and $120,000, respectively, and is included in accounts payable and accrued expenses. Warranty claims expense for the three months and six months ended April 30, 2020 totaled $48,646 and $11,389, respectively. Warranty claims expense for the three months and six months ended April 30, 2019 totaled $48,716 and $156,554, respectively.

The following table summarizes the changes in the Company’s accrual for product warranties during the six months ended April 30, 2020 and 2019:

	Six Months Ended
	April 30,
	2020			2019
Balance at beginning of period	$	120,000		$	180,000
Liabilities accrued for warranties issued during the period		92,769			153,981
Warranty claims and costs paid during the period		(46,389	)		(176,554	)
Changes in liability for pre-existing warranties during the period		(81,380	)		2,573
Balance at end of period	$	85,000		$	160,000