Note 5 - Contract Receivables, Contract Assets and Contract Liabilities

6 Months Ended

May 31, 2026

Notes to Financial Statements

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

5)

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.

		*May 31, 2026*				*November 30, 2025*
Receivables		$	2,706,000			$	2,202,000
Assets (cost and profit in excess of billings)			857,000				380,000
Liabilities (billings in excess of profit and customer deposits)			705,000				520,000

The amount of revenue recognized in the first six months of fiscal 2026 that was included in a contract liability on November 30, 2025 was approximately $421,000 compared to $248,000 in the same period of fiscal 2025. The beginning contract receivables, assets and liabilities on December 1, 2024 were approximately $2,373,000, $213,000 and $2,110,000, respectively.