BIOLASE, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Inventory

Inventory

3 Months Ended

Mar. 31, 2012

NOTE 4 – INVENTORY

Inventory is valued at the lower of cost or market (determined by the first-in, first-out method) and is comprised of the following (in thousands):


	March 31, 2012		December 31, 2011
Raw materials	$	3,756	$	4,280
Work-in-process		2,115		2,538
Finished goods		4,466		4,494

Inventory, net	$	10,337	$	11,312

Inventory is net of the provision for excess and obsolete inventory totaling $2.1 million and $2.3 million as of March 31, 2012 and December 31, 2011, respectively.

- 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.

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