Note 4 - Inventories and Major Vendors

9 Months Ended

Jul. 31, 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):

	July 31, 2023		October 31, 2022
Raw materials and supplies	$	14,107	$	15,238
Work in process		510		439
Finished goods		5,587		5,377
Totals	$	20,204	$	21,054

For the three months ended July 31, 2023, a single vendor accounted for 10% of inventory purchases. For the three months ended July 31, 2022, the same vendor accounted for 17% of inventory purchases. For the nine months ended July 31, 2023, this vendor accounted for 17% of inventory purchases and it accounted for 28% of inventory purchases for the nine months ended July 31, 2022. We have arrangements with this vendor to purchase products based on purchase orders that we periodically issue.