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How do accruals and prepayments affect the figures taken to the financial statements from the trial balance? What is the effect of depreciation on the trial balance and statements? What is the difference between a trial balance error being 'in the trial balance' versus 'in the ledger'? What is an extended trial balance (ETB)? How do compensating errors affect the trial balance? How is a suspense account shown if the trial balance still doesn't balance at reporting time? How do you incorporate a correction of a prior error into the trial balance / statement of corrected profit?
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How does closing inventory appear in relation to the trial balance?

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Answer

Closing inventory isn't in the trial balance because it's determined by a year-end count/valuation after the ledger is written up. It's brought in as an adjustment: debit the closing inventory (asset, balance sheet) and credit inventory/cost of sales (income statement), appearing twice—once in each statement—rather than as a normal trial balance line.
Closing inventory 8,000:
  Dr Inventory (Balance Sheet) 8,000
      Cr Closing Inventory (Income Statement/COS) 8,000
Real-world example The year-end stock count produces the closing inventory figure added to the accounts as an adjustment, not in the raw TB.

Common follow-ups: Why isn't closing inventory in the TB? | Where does it appear in the statements?

Control Accounts Correcting Errors Trial Balance
All 25 Trial Balance questions