Note 3 - Inventories and Major Vendors

6 Months Ended

Apr. 30, 2022

Notes to Financial Statements

Inventory Disclosure [Text Block]

Note 3 – 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, 2022		October 31, 2021
Raw materials and supplies	$	12,676	$	6,422
Work in process		441		381
Finished goods		6,051		4,376
Totals	$	19,168	$	11,179

For the three months ended April 30, 2022, one vendor accounted for 35% of inventory purchases, while one vendor accounted for 15% of inventory purchases for the three months ended April 30, 2021. For the six months ended April 30, 2022, one vendor accounted for 32% of inventory purchases and no vendor accounted for more than 10% of inventory purchases for the six months ended April 30, 2021. We have arrangements with our vendors to purchase products based on purchase orders that we periodically issue.