BE6-1 Smart Company identifies the following items for possible inclusion in the taking of a phys¬

ical inventory. Indicate whether each item should be included or excluded from the inventory taking.

(a) Goods shipped on consignment by Smart to another company.

(b) Goods in transit from a supplier shipped FOB destination.

(c) Goods sold but being held for customer pickup.

(d) Goods held on consignment from another company.