Note 6 - Product Warranties

12 Months Ended

Oct. 31, 2018

Product Warranty Disclosure [Text Block]

(

)

Product Warranties

The Company generally warrants its products against certain manufacturing and other defects in material and workmanship. These product warranties are provided for specific periods of time and are applicable assuming the product has

not

been subjected to misuse, improper installation, negligent handling or shipping damage. As of

October 31, 2018

and

2017,

the Company’s accrual for estimated product warranty claims totaled

$180,000

and is included in accounts payable and accrued expenses. Warranty claims expense includes the costs to investigate claims and potential claims, and the costs to replace and/or repair product pursuant to claims, which can include claims

not

deemed valid by the Company. The accrued product warranty costs are based primarily on historical experience of actual warranty claims and costs as well as current information with respect to potential warranty claims and costs. Warranty claims expense for the years ended

October 31, 2018,

2017

and

2016

totaled

$219,190,

$281,523

and

$70,691,

respectively.

The following table summarizes the changes in the Company’s accrual for product warranties during the fiscal years ended

October 31, 2018

and

2017:

	Years ended October 31,
	2018			2017
Balance at beginning of year	$	180,000		$	70,000
Liabilities accrued for warranties issued during the year		266,258			238,093
Warranty claims paid during the period		(219,190	)		(171,523	)
Changes in liability for pre-existing warranties during the year		(47,068	)		43,430
Balance at end of year	$	180,000		$	180,000