Concentration of Risk
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Nov. 30, 2011
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Concentration of Risk [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
CONCENTRATION OF RISK |
NOTE 12 — CONCENTRATION OF RISK Most of the Company’s products are sold to major drug and food chains merchandisers, and wholesale beauty-aids distributors throughout the United States and Canada. During the years ended November 30, 2011, 2010 and 2009, certain customers each accounted for more than 5% of the Company’s net sales, as follows:
The loss of any one of these customers could have a material adverse affect on the Company’s earnings and financial position.
During the years November 30, 2011, 2010 and 2009, certain products within the Company’s product lines accounted for more than 10% of the Company’s net sales as follows:
The Company maintains cash balances at several banks. Non-interest bearing accounts at each institution are insured by the Federal Deposit Insurance Corporation for the full balance under the Temporary Liquidity Guarantee Program through December 31, 2012. In addition, the Company maintains accounts with several brokerage firms. The accounts contain cash and securities. Balances are insured up to $500,000 (with a limit of $100,000 for cash) by the Securities Investor Protection Corporation (SIPC). Each brokerage firm has substantial insurance beyond the $500,000 SIPC limit. |