Note 7 - Product Warranty

9 Months Ended

Aug. 31, 2017

Notes to Financial Statements

Product Warranty Disclosure [Text Block]

7 ) 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

6.

Changes in the Company’s product warranty liability for the

three

and

nine

months ended

August 31, 2017

and

August 31, 2016

are as follows:

	For the three months ended
	August 31, 2017			August 31, 2016
Balance, beginning	$	152,964		$	140,674
Settlements / adjustments		(46,469	)		(36,896	)
Warranties issued		26,699			61,922
Balance, ending	$	133,194		$	165,700

	For the nine months ended
	August 31, 2017			August 31, 2016
Balance, beginning	$	134,373		$	176,531
Settlements / adjustments		(155,603	)		(186,179	)
Warranties issued		154,424			175,348
Balance, ending	$	133,194		$	165,700