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Inventories and major vendors
9 Months Ended
Jul. 31, 2019
Inventory Disclosure [Abstract]  
Inventories and major vendors

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, 2019

    

October 31, 2018

Raw materials and supplies

 

$

3,538

 

$

2,711

Work in process

 

 

743

 

 

603

Finished goods

 

 

3,805

 

 

3,799

 

 

 

  

 

 

  

Totals

 

$

8,086

 

$

7,113

 

 

Two vendors accounted for 23% and 14% of inventory purchases for the three months ended July 31, 2019. For the nine months ended July 31, 2019, the same two vendors accounted for 17% and 14% of inventory purchases, respectively.  For the three months ended July 31, 2018, one vendor accounted for 50% of inventory purchases.  This same vendor accounted for 47% of inventory purchases for the nine months ended July 31, 2018. The Company has arrangements with these vendors to purchase products based on purchase orders periodically issued by the Company.