PROPERTY AND EQUIPMENT, NET

12 Months Ended

Sep. 30, 2023

PROPERTY AND EQUIPMENT, NET

PROPERTY AND EQUIPMENT, NET

4. PROPERTY AND EQUIPMENT, NET:

Property and equipment at September 2023 and September 2022 consisted of the following:

	2023		2022
Land and improvements	$	4,292,142	$	2,747,857
Buildings and improvements		43,963,416		30,515,259
Warehouse equipment		23,894,049		17,488,059
Furniture, fixtures and leasehold improvements		16,869,932		14,190,976
Vehicles		12,962,265		4,531,831
Construction in progress		18,798,343		12,216,453
		120,780,147		81,690,435
Less accumulated depreciation:		(40,172,696)		(33,604,915)
Property and equipment, net	$	80,607,451	$	48,085,520

During fiscal 2023 and fiscal 2022, respectively, the Company capitalized approximately $0.8 million and $0.1 million of interest on funds borrowed to finance certain capital expenditures. Capitalized interest is recorded as part of an asset’s cost and will be depreciated over the asset’s useful life.