We are currently using Periodic inventory accounting system, in that case, Can we get inventory balance from erp next? & from where we get closing balance of inventory for transfer to P & L & balance sheet?
Sure. You can check Stock Balance and Stock Ledger report for the value of stock in hand.
To have this value reflect in the Chart of Accounts, you will have to post an adjustment entry.
To learn more, check: https://youtu.be/5wjollWN0OA?t=37m46s