4 Goods on order from a supplier Not Inventory Inventory Revenue O Depends on Shipping term if it is FOB Destionation or FOB Shipping point 1 pts Question 5 1 pts Sold goods not yet shipped to the customer Not Inventory Since the performance obligation is not satisfied and not shipped yet then Sales can not be recognized therefore it is not inventory Inventory O Equity D Question 6 1 pts Goods in transit from a supplier, F.O.B. shipping point None of the above. Not Inventory Revenue Inventory Question 7 1 pts Goods in transit from a supplier, F.O.B. destination No Adjusting Entries are needed. Not Inventory None of the above. Inventory