5. INVENTORIES

6 Months Ended

Oct. 31, 2016

Inventory Disclosure [Abstract]

INVENTORIES

Inventories are recorded at the lower of cost or market (net realizable value) and primarily include raw materials, direct labor and overhead costs (work-in-process) associated with our wholly-owned subsidiary, Avid. Cost is determined by the first-in, first-out method. Inventories consist of the following:

	October 31, 2016		April 30, 2016
Raw materials	$	11,696,000	$	10,911,000
Work-in-process		14,228,000		5,275,000
Total inventories	$	25,924,000	$	16,186,000