QUESTION 4 Where should goods in transit that were recently purchased fob destination, but have not yet arrived, be included on the balance sheet? O a Accounts Payable b. Inventory c. Equipment d. Not shown on the balance sheet. QUESTION 5 What is consigned inventory? Goods that are shipped; title transfers to the recipient Goods that are sold, but payment is not yet required Goods that are shipped, but title remains with the consignor Goods that have been set aside for shipment to a specific customer