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Summary of Significant Accounting Policies (Tables)

12 Months Ended

Oct. 31, 2019

Accounting Policies [Abstract]

Schedule of Accounts Receivable

The allowances are summarized as follows:

		2019				2018
Allowance for doubtful accounts		$	65,000			$	65,000
Reserve for other allowances			35,000				35,000
Reserve for sales discounts			44,000				44,000
Totals		$	144,000			$	144,000

Schedule of Commodities Held by Broker

The Company has open position contracts held by the broker, which are summarized as follows:

		2019				2018
Option contracts		$	(58,856	)		$	(39,926	)
Future contracts			159,887				17,880
Commodities due to broker		$	101,031			$	(22,046	)

Schedule of Realized and Unrealized Gains and Losses on Contracts

Included in cost of sales for the years ended October 31, 2019 and 2018, the Company recorded realized and unrealized gains and losses respectively, on these contracts as follows:

		Year Ended October 31,
		2019				2018
Gross realized gains		$	1,307,816			$	999,540
Gross realized (losses)			(2,642,537	)			(2,007,691	)
Unrealized gains			123,077				188,816
Total		$	(1,211,644	)		$	(819,335	)

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Tabular disclosure of the various types of trade accounts and notes receivable and for each the gross carrying value, allowance, and net carrying value as of the balance sheet date. Presentation is categorized by current, noncurrent and unclassified receivables.

+ References

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.3,4)
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Tabular disclosure of amounts receivable from and payable to broker-dealers and clearing organizations, including securities failed to receive, deposits received for securities loaned, amounts payable to clearing organizations related to open transactions, floor brokerage payables and payables for commodities futures accounts liquidating to an equity balance on a broker-dealer's records.

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Tabular disclosure of the proceeds from sales of available-for-sale securities and the gross realized gains and gross realized losses that have been included in earnings as a result of those sales.

+ References

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 320
-SubTopic 10
-Section 50
-Paragraph 9
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