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Inventories

9 Months Ended

Jul. 31, 2014

3.	Inventories

Inventories consist of the following (in thousands):


	July 31, 2014		October 31, 2013

Fresh fruit	$	18,170	$	13,928
Packing supplies and ingredients		6,097		5,511
Finished prepared foods		8,768		9,234

	$	33,035	$	28,673

Inventories are stated at the lower of cost or market. We periodically review the value of items in inventory and record any necessary reserves of inventory based on our assessment of market conditions. No inventory reserve was considered necessary as of July 31, 2014 and October 31, 2013.

- Definition

The entire disclosure for inventory. This may include, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the major classes of inventory, and the nature of the cost elements included in inventory. If inventory is stated above cost, accrued net losses on firm purchase commitments for inventory and losses resulting from valuing inventory at the lower-of-cost-or-market may also be included. For LIFO inventory, may disclose the amount and basis for determining the excess of replacement or current cost over stated LIFO value and the effects of a LIFO quantities liquidation that impacts net income.

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