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An unrealistic picture of the inventory's current value on the balance sheet is an argument against using
Adjusted Trial Balance
The trial balance prepared after all the adjusting entries have been posted.
Financial Statements
The formal records of the financial activities and position of a business, person, or other entity, typically including the balance sheet, income statement, and cash flow statement.
Plant Asset
Long-term tangible assets used in the operation of a business and not intended for resale.
Current Liabilities
Liabilities that will be due within a short time (usually one year or less) and that are to be paid out of current assets.
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