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Inventories (Tables) | 12 Months Ended
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Sep. 30, 2019
Inventory Disclosure [Abstract] |
Net Inventories | Net inventories consist of the following:
|  | September 30, |
|  | 2019 |  |  | 2018 |
|  |  |  |  | (as adjusted) |
Raw materials |  | $ | 14,158,000 |  |  | $ | 13,470,000 |
Work in process |  |  | 1,397,000 |  |  |  | 1,247,000 |
Finished goods |  |  | 9,811,000 |  |  |  | 7,157,000 |
Used equipment |  |  | — |  |  |  | 16,000 |
Inventories, net |  | $ | 25,366,000 |  |  | $ | 21,890,000 |
Schedule Of Retrospective Application of Change In Accounting Method Of Inventory | As a result of the retrospective application of this change in accounting method, the following financial statement line items within the accompanying fiscal 2018 consolidated financial statements were adjusted, as follows:
|  | As Originally Reported under LIFO |  |  | Effect of Change |  |  | As Reported under FIFO |
Consolidated Balance Sheets |  |  |  |  |  |  |  |  |  |  |  |
ASSETS |  |  |  |  |  |  |  |  |  |  |  |
Inventories, net |  | $ | 18,214,000 |  |  | $ | 3,676,000 |  |  | $ | 21,890,000 |
Prepaid expenses |  |  | 1,904,000 |  |  |  | (556,000 | ) |  |  | 1,348,000 |
LIABILITIES & SHAREHOLDERS’ EQUITY |  |  |  |  |  |  |  |  |  |  |  |
Deferred and other income taxes |  |  | 2,358,000 |  |  |  | 282,000 |  |  |  | 2,640,000 |
Retained earnings |  |  | 128,863,000 |  |  |  | 2,838,000 |  |  |  | 131,701,000 |
Consolidated Income Statements |  |  |  |  |  |  |  |  |  |  |  |
Cost of goods sold |  | $ | 71,993,000 |  |  | $ | (175,000 | ) |  | $ | 71,818,000 |
Income before income tax expense |  |  | 14,889,000 |  |  |  | 175,000 |  |  |  | 15,064,000 |
Income tax expense |  |  | 2,325,000 |  |  |  | 45,000 |  |  |  | 2,370,000 |
Net income |  | $ | 12,564,000 |  |  | $ | 130,000 |  |  | $ | 12,694,000 |
Basic earnings per common share |  | $ | 0.87 |  |  | $ | 0.01 |  |  | $ | 0.88 |
Diluted earnings per common share |  | $ | 0.85 |  |  | $ | 0.01 |  |  | $ | 0.86 |
Consolidated Statements of Cash Flows |  |  |  |  |  |  |  |  |  |  |  |
Net income |  | $ | 12,564,000 |  |  | $ | 130,000 |  |  | $ | 12,694,000 |
Deferred and other income taxes |  |  | 757,000 |  |  |  | (495,000 | ) |  |  | 262,000 |
Inventories |  |  | (1,527,000 | ) |  |  | (175,000 | ) |  |  | (1,702,000 | )
Prepaid expenses |  |  | (244,000 | ) |  |  | 556,000 |  |  |  | 312,000 |
Accrued expenses |  |  | (341,000 | ) |  |  | (16,000 | ) |  |  | (357,000 | )

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