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PRODUCT WARRANTY | 12 Months Ended
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Jul. 31, 2021
Guarantees and Product Warranties [Abstract] |
PRODUCT WARRANTY | PRODUCT WARRANTY The Company generally provides retail customers of its products with a 1 year or 2 year warranty covering defects in material or workmanship, with longer warranties on certain structural components. The Company records a liability based on its best estimate of the amounts necessary to settle future and existing claims on products sold as of the balance sheet date. Factors used in estimating the warranty liability include a history of retail units sold, existing dealer inventory, average cost incurred and a profile of the distribution of warranty expenditures over the warranty period. Actual claims incurred could differ from estimates, requiring adjustments to the liabilities. Changes in our product warranty liabilities during the indicated periods are as follows:
|  | 2021 |  | 2020 |  | 2019
Beginning balance |  | $ | 252,869 |  |  | $ | 289,679 |  |  | $ | 264,928 |
Provision |  | 261,851 |  |  | 198,873 |  |  | 233,927 |
Payments |  | (258,624) |  |  | (238,590) |  |  | (251,071) |
Acquisition |  | 11,032 |  |  | — |  |  | 43,329 |
Foreign currency translation |  | 492 |  |  | 2,907 |  |  | (1,434) |
Ending balance |  | $ | 267,620 |  |  | $ | 252,869 |  |  | $ | 289,679 |

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- References No definition available. + Details
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- Definition The entire disclosure for standard and extended product warranties and other product guarantee contracts, including a tabular reconciliation of the changes in the guarantor's aggregate product warranty liability for the reporting period. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 460 -URI http://asc.fasb.org/topic&trid=2155896 + Details
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