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Note 3 - Inventories and Major Vendors
 9 Months Ended
Jul. 31, 2021
Notes to Financial Statements  
Inventory Disclosure [Text Block]

Note 3 – 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, 2021

  

October 31, 2020

 
         

Raw materials and supplies

 $6,034  $4,410 

Work in process

  301   196 

Finished goods

  4,065   3,980 
         

Totals

 $10,400  $8,586 

 

One vendor accounted for 27% of inventory purchases for the three months ended July 31, 2021, and 17% of inventory purchases for the nine months ended July 31, 2021. Two vendors accounted for 12% and 10% of inventory purchases for the three months ended July 31, 2020, but no vendors accounted for more than 10% of inventory purchases for the nine months ended July 31, 2020. We have arrangements with our vendors to purchase products based on purchase orders that we periodically issue.