Dayne Company identifies the following items for possible inclusion in the taking of a physical inventory. Indicate whether each item should be included or excluded from the inventory taking.

Identify items to be included in taking a physical inventory.

(LO 1)

(a) Goods shipped on consignment by Dayne 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.