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Note 6 - Contract Receivables, Contract Assets and Contract Liabilities

3 Months Ended

Feb. 28, 2025

Notes to Financial Statements

Contract Receivable, Contract Assets, and Contract Liabilities [Text Block]

6) Contract Receivables, Contract Assets and Contract Liabilities

The following table provides information about contract receivables, contract assets, and contract liabilities from contracts with customers included on the Condensed Consolidated Balance Sheets.

		February 28, 2025				November 30, 2024
Receivables		$	1,407,000			$	2,373,000
Assets			288,000				213,000
Liabilities			2,147,000				2,110,000

The amount of revenue recognized in the first three months of fiscal 2025 that was included in a contract liability on  November 30, 2024 was approximately $197,000 compared to $560,000 in the same period of fiscal 2024. The beginning contract receivables, assets and liabilities on December 1, 2023 were approximately $3,432,000; $289,000 and $767,000, respectively.

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