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Note 5 - Product Warranties
 3 Months Ended
Apr. 30, 2024
Notes to Financial Statements  
Product Warranty Disclosure [Text Block]

(5)

Product Warranties

 

As of April 30, 2024 and October 31, 2023, the Company’s accrual for estimated product warranty claims totaled $75,000 and $80,000, respectively, and is included in accounts payable and accrued expenses. Warranty claims expense for the three months and six months ended April 30, 2024 totaled $39,078 and $44,266, respectively. Warranty claims expense for the three months and six months ended April 30, 2023 totaled $13,078 and $29,652, respectively.

 

The following table summarizes the changes in the Company’s accrual for product warranties during the six months ended April 30, 2024 and 2023:

 

   

Six Months Ended

 
   

April 30, 2024

  
   

2024

    

2023

  

Balance at beginning of period

   $ 80,000     $ 75,000  

Liabilities accrued for warranties issued during the period

     65,766       59,149  

Warranty claims and costs paid during the period

     (49,266 )     (39,652 )

Changes in liability for pre-existing warranties during the period

     (21,500 )     (29,497 )

Balance at end of period

   $ 75,000     $ 65,000