Annual report pursuant to Section 13 and 15(d)

Property and Equipment

v3.22.4
Property and Equipment
 12 Months Ended
Nov. 30, 2022
Property, Plant and Equipment [Abstract]  
Property and Equipment

NOTE 7 - PROPERTY AND EQUIPMENT

The major classes of property and equipment are as follows:

 

 

 

2022

 

 

2021

 

Building

 

$

11,215,134

 

 

$

1,510,150

 

Vehicle

 

 

172,697

 

 

 

—

 

Furniture and equipment

 

 

7,570,067

 

 

 

6,842,282

 

Leasehold improvements

 

 

1,258,738

 

 

 

1,205,893

 

Computer software – internal use

 

 

1,194,038

 

 

 

1,194,039

 

 

 

 

21,410,674

 

 

 

10,752,364

 

Less: accumulated depreciation

 

 

(7,807,559

)

 

 

(7,522,160

)

Total property and equipment

 

$

13,603,115

 

 

$

3,230,204

 

 

Depreciation expense was approximately $333,000 in fiscal 2022 and approximately $229,000 in fiscal 2021, of which approximately $208,000 and $204,000 is included in cost of sales, respectively, in the accompanying consolidated statements of income.