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Acquisitions - (Tables) | 6 Months Ended
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May 31, 2022
Business Combination and Asset Acquisition [Abstract] |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed | The preliminary allocation of the purchase price is as follows:
Cash and cash equivalents |  | $ | 702,907 |
Accounts receivable, net |  | 5,157,797 |
Receivables from vendors, net |  | 727,175 |
Inventories |  | 3,003,839 |
Other current assets |  | 395,609 |
Property and equipment |  | 347,532 |
Goodwill |  | 3,560,973 |
Intangible assets |  | 4,933,900 |
Other assets |  | 475,424 |
Total assets |  | 19,305,156 |
Borrowings, current |  | 493,076 |
Accounts payable |  | 6,613,145 |
Other accrued liabilities |  | 1,252,507 |
Long-term borrowings |  | 2,218,672 |
Other long-term liabilities |  | 416,587 |
Deferred tax liabilities |  | 1,086,769 |
Total liabilities |  | 12,080,756 |
Purchase consideration |  | $ | 7,224,400 |
Finite-Lived and Indefinite-Lived Intangible Assets Acquired | The allocation of the value of identifiable intangible assets is as follows:
|  | Fair value |  | Weighted average useful life
Customer relationships |  | $ | 3,860,200 |  |  | 14 years
Trade name |  | 1,073,700 |  |  | Indefinite lived
Total intangibles acquired |  | $ | 4,933,900 |  |  |
Business Acquisition, Pro Forma Information | As a result, the pro forma information below does not purport to present what actual results would have been had the Merger been consummated on the date indicated and it is not necessarily indicative of the results of operations that may result in the future.
|  | Three Months Ended |  | Six Months Ended
|  | May 31, 2021 |  | May 31, 2021
Revenue |  | $ | 15,427,456 |  |  | $ | 30,673,100 |
Net income |  | $ | 108,380 |  |  | $ | 244,704 |

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- Definition Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(2) -URI https://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(3) -URI https://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 + Details
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- Definition Tabular disclosure of finite-lived and indefinite-lived intangible assets acquired as part of a business combination. + References No definition available. + Details
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- Definition Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -URI https://asc.fasb.org/extlink&oid=128092470&loc=d3e4845-128472 + Details
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