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Note 6 - Product Warranty | 6 Months Ended
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May 31, 2014
Product Warranties Disclosures [Abstract] |
Product Warranty Disclosure [Text Block] |
| 6) | Product Warranty
The Company offers warranties of various lengths to its customers depending on the specific product and terms of the customer purchase agreement. The average length of the warranty period is one year from the date of purchase. The Company’s warranties require it to repair or replace defective products during the warranty period at no cost to the customer. The Company records a liability for estimated costs that may be incurred under its warranties. The costs are estimated based on historical experience and any specific warranty issues that have been identified. Although historical warranty costs have been within expectations, there can be no assurance that future warranty costs will not exceed historical amounts. The Company periodically assesses the adequacy of its recorded warranty liability and adjusts the balance as necessary. The accrued warranty balance is included in accrued expenses as shown in Note 5. Changes in the Company’s product warranty liability for the three and six months ended May 31, 2014 and May 31, 2013 are as follows:
|  |  | For the three months ended |  |
|  |  | May 31, 2014 |  |  |  | May 31, 2013 |  |
Balance, beginning |  | $ | 153,455 |  |  | $ | 575,330 |  |
Settlements made in cash or in-kind |  |  | (43,493 | ) |  |  | (212,374 | ) |
Warranties issued |  |  | 119,438 |  |  |  | 164,025 |  |
Balance, ending |  | $ | 229,400 |  |  | $ | 526,981 |  |
|  | For the six months ended |  |
|  | May 31, 2014 |  |  | May 31, 2013 |  |
Balance, beginning |  | $ | 220,719 |  |  | $ | 578,864 |  |
Settlements made in cash or in-kind |  |  | (195,070 | ) |  |  | (381,063 | ) |
Warranties issued |  |  | 203,751 |  |  |  | 329,180 |  |
Balance, ending |  | $ | 229,400 |  |  | $ | 526,981 |  |

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- Definition The entire disclosure for standard and extended product warranties and other product guarantee contracts, including a tabular reconciliation of the changes in the guarantor's aggregate product warranty liability for the reporting period. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 460 -SubTopic 10 -Section 50 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=6398077&loc=d3e12565-110249 + Details
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