The Form 10-K for the fiscal year ended November 30, 2022 incorrectly reported the balances of raw materials, work in process, and finished goods.  The amounts presented below are the original reported balances and the adjusted balances as of November 30, 2022.  These changes had no impact on previously reported consolidated balance sheets, consolidated results of operations, or shareholders' equity. 

The following table summarizes inventory as of November 30, 2023 and 2022, respectively (in thousands).

The Company reviews inventory for excess and obsolete products and makes provisions based on its estimate of the probability that the material will not be consumed or that it will be sold below cost. The inventory reserves were $0.7 million and $0.7 million at November 30, 2023 and 2022, respectively.