Thanks for answering my questions Sanil.
I agree to your answer to my 2nd question. Here, Will we exclude the inventory balances in trial balance then, since both GL and MM is posted?
For example: There are 100 units of inventory loaded with the std price of 2.00. The finished goods inventory GL will have a value of 200. and 399999(initial stock ac) is credited with 200. Now, we will have a value of 200 in the trial balance too. How to deal with this? Will we follow the same technique for inventory what we use for loading AR or AP open items? If possible, give an example to explain. Appreciate your timely response. Thanks!