Annual report pursuant to Section 13 and 15(d)

Summary of Significant Accounting Policies (Tables)

v2.4.1.9
Summary of Significant Accounting Policies (Tables)
12 Months Ended
Nov. 30, 2014
Accounting Policies [Abstract]  
Summary of estimated useful lives or lease terms of the assets
Depreciation and amortization are provided utilizing the straight-line method over the following estimated useful lives or lease terms of the assets, whichever is shorter:
 
Machinery and equipment
5-7 Years
Furniture and fixtures
3-10 Years
Tools, dies and masters
3 Years
Transportation equipment
5 Years
Leasehold improvements
Remaining life of the lease (7.5 years)
The components of property and equipment consisted of the following:
 
 
November 30,
2014
 
November 30,
2013
Machinery and equipment
 
$

 
$
156,810

Furniture and equipment
 
672,477

 
771,988

Tools, dies and masters
 
449,862

 
494,166

Transportation equipment
 
16,538

 
44,076

Capitalized lease obligations
 
41,326

 
62,140

Web Site
 

 
20,000

Leasehold improvements
 
1,054,365

 
1,090,798

 
 
$
2,234,568

 
$
2,639,978

Less: Accumulated depreciation
 
1,125,968

 
1,150,179

Property and Equipment—Net
 
$
1,108,600

 
$
1,489,799