Note 4 - Accounts Receivable

6 Months Ended

May 29, 2021

Notes to Financial Statements

Loans, Notes, Trade and Other Receivables Disclosure [Text Block]

4. Accounts Receivable

Accounts receivable consists of the following:

	May 29, 2021			November 28, 2020
Gross accounts receivable	$	27,050		$	23,551
Allowance for doubtful accounts		(1,168	)		(1,211	)
Accounts receivable, net	$	25,882		$	22,340

We maintain an allowance for doubtful accounts for estimated losses resulting from the inability of our customers to make required payments. The allowance for doubtful accounts is based on a review of specifically identified accounts in addition to an overall aging analysis which is applied to accounts pooled on the basis of similar risk characteristics. Judgments are made with respect to the collectibility of accounts receivable within each pool based on historical experience, current payment practices and current economic trends based on our expectations over the expected life of the receivables, which is generally ninety days or less. Actual credit losses could differ from those estimates.

Activity in the allowance for doubtful accounts for the six months ended May 29, 2021 was as follows:

Balance at November 28, 2020	$	1,211
Reductions to allowance		(43	)
Balance at May 29, 2021	$	1,168

We believe that the carrying value of our net accounts receivable approximates fair value. The inputs into these fair value estimates reflect our market assumptions and are not observable. Consequently, the inputs are considered to be Level 3 as specified in the fair value hierarchy in ASC Topic 820, Fair Value Measurements and Disclosures. See Note 3.