Answer choices are Buyer's Inventory, Seller's Inventory, Pine Company's Inventory, and Oak Company's Inventory. Please explain why if possible.

Where, if at all, should the following items be classified on a balance sheet? Goods sold that have a repurchase agreement Buyer's Inventory Goods in transit that were recently purchased FOB shipping point Seller's Inventory Goods received from Oak Company by Pine Company that were on consignment Pine Company's Inventory