Note 3 - Inventories and Major Vendors

9 Months Ended

Jul. 31, 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): 

	July 31, 2022		October 31, 2021
Raw materials and supplies	$	12,116	$	6,422
Work in process		361		381
Finished goods		6,684		4,376
Totals	$	19,161	$	11,179

For the three months ended July 31, 2022, one vendor accounted for 17% of inventory purchases, while one vendor accounted for 27% of inventory purchases for the three months ended July 31, 2021. For the nine months ended July 31, 2022, one vendor accounted for 28% of inventory purchases and one vendor accounted for 17% of inventory purchases for the nine months ended July 31, 2021. We have arrangements with our vendors to purchase products based on purchase orders that we periodically issue.