XML 24 R11.htm IDEA: XBRL DOCUMENT v3.24.2.u1
Note 5 - Product Warranties
 9 Months Ended
Jul. 31, 2024
Notes to Financial Statements  
Product Warranty Disclosure [Text Block]

(5)

Product Warranties

 

As of July 31, 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 nine months ended July 31, 2024 totaled $9,153 and $53,419, respectively. Warranty claims expense for the three months and nine months ended July 31, 2023 totaled $26,048 and $55,700, respectively.

 

The following table summarizes the changes in the Company’s accrual for product warranties during the nine months ended July 31, 2024 and 2023:

 

   

Nine Months Ended

 
   

July 31,

  
   

2024

    

2023

  

Balance at beginning of period

   $ 80,000     $ 75,000  

Liabilities accrued for warranties issued during the period

     77,217       77,089  

Warranty claims and costs paid during the period

     (58,419 )     (50,700 )

Changes in liability for pre-existing warranties during the period

     (23,798 )     (21,389 )

Balance at end of period

   $ 75,000     $ 80,000