Company: BRID
Filing Date: 2025-06-02
Form Type: 10-Q
Source: 0001641172-25-013252
Chunk: 10

Company: BRIDGFORD FOODS CORP
Filing Date: 2025-06-02
Form: 10-Q
Item: Part I, Item 1
Chunk 10
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09 is effective for the Company in fiscal
years beginning after December 15, 2024, our fiscal year 2026, and will be applied prospectively. The Company is currently
evaluating the guidance and its impact to the financial statements.

In
March 2024, the SEC adopted rules to develop standardized climate-related disclosures by publicly traded companies, including the emission
of greenhouse gases. The rules are currently effective for the Company in the fiscal year beginning in 2027. However, as a result of
pending legal challenges, the actual timing of effectiveness of the rules and applicable phase-in periods, as well as whether portions
of the rules will remain in effect after the legal challenges, are uncertain. The Company is currently evaluating the guidance and its
impact on the financial statements.

In
November 2024 and January 2025, respectively, the FASB issued ASU No. 2024-03 and ASU No. 2025-01, Income Statement –
Reporting Comprehensive Income – Expense Disaggregation Disclosures – Disaggregation of Income Statement Expenses. ASU
No. 2024-03 and ASU No. 2025-01 seek to separately disaggregate expenses on inventory, employee compensation, depreciation and other
items included within each income statement line item that contains these expenses. ASU No. 2024-03 is effective for the Company in
fiscal years beginning after December 15, 2026, our fiscal year 2027, and will be applied prospectively. The Company is currently
evaluating the guidance and its impact to the financial statements.

Note
2 – Inventories, net:

Inventories
are comprised of the following at the respective period ends:

Schedule
of Inventories  

    April 18, 2025  
    November 1, 2024 
  
    Meat, ingredients, and supplies 
    $11,794  
    $10,314 
  
    Work in progress 
     5,251  
     2,633 
  
    Finished goods 
     23,010  
     20,391 
  
    Inventories,
    net 
    $40,055  
    $33,338 

Inventories
are valued at the lower of cost (which approximates actual cost on a first-in, first-out basis) or net realizable value. Inventories
include the cost of raw materials, labor, and manufacturing overhead. We