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Note 8 - Inventory

12 Months Ended

Nov. 30, 2023

Notes to Financial Statements

Inventory Disclosure [Text Block]

8.

INVENTORY

The Form 10-K for the fiscal year ended November 30, 2022 incorrectly reported the balances of raw materials, work in process, and finished goods. The amounts presented below are the original reported balances and the adjusted balances as of November 30, 2022. These changes had no impact on previously reported consolidated balance sheets, consolidated results of operations, or shareholders' equity.

		November 30, 2022								November 30, 2022
		As Previously Reported				Adjustment				As Revised
Raw materials		$	7,228			$	712			$	7,940
Work in process			701				69				770
Finished goods			7,533				(781	)			6,752
Total		$	15,462			$	—			$	15,462

The following table summarizes inventory as of November 30, 2023 and 2022, respectively (in thousands).

						As Revised
		November 30,				November 30,
		2023				2022
Raw materials		$	7,543			$	7,940
Work in process			2,439				770
Finished goods			3,908				6,752
Total		$	13,890			$	15,462

The Company reviews inventory for excess and obsolete products and makes provisions based on its estimate of the probability that the material will not be consumed or that it will be sold below cost. The inventory reserves were $0.7 million and $0.7 million at November 30, 2023 and 2022, respectively.