NOTE 3 - INVENTORIES

3 Months Ended

Feb. 29, 2012

NOTE 3 – INVENTORIES

Inventories, consisting of agricultural products, is stated at the lower of cost (determined on a first-in, first-out basis) or market. The Company’s inventories increased as of the quarter ended February 29, 2012 as the Company is able to store additional raw materials that require longer lead times as well as utilizing forecasting tools to build inventory. The Company is preparing for its busy season which primarily begins in March of each year. Inventories consist of the following at:

	February 29, 2012		November 30, 2011

Raw materials	$	594,134	$	548,882
Finished goods		544,263		421,203
Total inventories	$	1,138,397	$	970,085

There are a limited number of suppliers for certain raw materials used by the Company in its products.

- Definition

The entire disclosure for inventory. This may include, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the major classes of inventory, and the nature of the cost elements included in inventory. If inventory is stated above cost, accrued net losses on firm purchase commitments for inventory and losses resulting from valuing inventory at the lower-of-cost-or-market may also be included. For LIFO inventory, may disclose the amount and basis for determining the excess of replacement or current cost over stated LIFO value and the effects of a LIFO quantities liquidation that impacts net income.

+ References+ Details

WESTBRIDGE RESEARCH GROUP 10-Q