Thanks KlentB,

You wrote:  For the line containing the value, you'll have to change the inventory asset account of the inventory items involved.

Currently, the inventory asset account for all the inventory items is called "Inventory". Should I duplicate each inventory item, and assign one to "Inventory #1" and one to "Inventory #2"? And then, for items added to inventory after the business transition, I would use the copy assigned to Inventory #2? 

Jennifer