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FAIR VALUE MEASUREMENTS (Tables)
 12 Months Ended
Aug. 31, 2017
Fair Value Measurements Tables  
Schedule of fair value of assets and liabilities measured on a recurring basis

The following table provides information on the assets and liabilities measured at fair value on a recurring basis as of August 31, 2017:

 

              Fair Value Measurement Using:  
         Cost / Other    Quoted Prices in Active Markets for Identical Assets     Significant Other Observable Inputs     Significant Unobservable Inputs     Accumulated Unrealized Gains and 
    Fair Value    Value    (Level 1)    (Level 2)    (Level 3)    (Losses) 
Certificates of deposit  $12,673,700   $12,694,500   $—     $12,673,700   $—     $(20,800)
U.S. treasuries   7,381,700    7,372,000    —      7,381,700    —      9,700 
  Subtotal  $20,055,400   $20,066,500   $—     $20,055,400   $—     $(11,100)
Long-term investments   188,000    188,000    —      188,000    —      —   
  Total  $20,243,400   $20,254,500   $—     $20,243,400   $—     $(11,100)

  

The following table provides information on the assets and liabilities measured at fair value on a recurring basis as of August 31, 2016: 

              Fair Value Measurement Using:  
         Cost / Other    Quoted Prices in Active Markets for Identical Assets     Significant Other Observable Inputs     Significant Unobservable Inputs     Accumulated Unrealized Gains and 
    Fair Value    Value    (Level 1)    (Level 2)    (Level 3)    (Losses) 
Certificates of deposit  $6,050,500   $6,054,700   $—     $6,050,500   $—     $(4,200)
U.S. treasuries   17,125,900    17,115,200    —      17,125,900    —      10,700 
  Subtotal  $23,176,400   $23,169,900   $—     $23,176,400   $—     $6,500 
Long-term investments   6,853,300    6,856,700    —      6,853,300    —      (3,400)
  Total  $30,029,700   $30,026,600   $—     $30,029,700   $—     $3,100