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Note 5 - Product Warranties
 9 Months Ended
Jul. 31, 2023
Notes to Financial Statements  
Product Warranty Disclosure [Text Block]

(5)       Product Warranties

 

As of July 31, 2023 and October 31, 2022, the Company’s accrual for estimated product warranty claims totaled $80,000 and $75,000, respectively, and is included in accounts payable and accrued expenses. Warranty claims expense for the three months and nine months ended July 31, 2023 totaled $26,048 and $55,700, respectively. Warranty claims expense for the three months and nine months ended July 31, 2022 totaled $24,071 and $47,606, respectively.

 

The following table summarizes the changes in the Company’s accrual for product warranties during the nine months ended July 31, 2023 and 2022:

 

   

Nine Months Ended

 
   

July 31,

  
   

2023

    

2022

  

Balance at beginning of period

   $ 75,000     $ 75,000  

Liabilities accrued for warranties issued during the period

     77,089       98,392  

Warranty claims and costs paid during the period

     (50,700 )     (47,606 )

Changes in liability for pre-existing warranties during the period

     (21,389 )     (50,786 )

Balance at end of period

   $ 80,000     $ 75,000