MERCHANDISE INVENTORY

Merchandise Inventory

Merchandise Inventory

Goods In Transit

Goods that have departed from the dispatch, loading, or shipping point but have not yet arrived at the receipt, offloading, or delivery point. Also called in transit inventory or stock in transit.

Consigned Goods

Goods that are offered for sale on consignment have been shipped to the seller by the owner, with the seller acting as agent for the owner. Generally the owner, known as the consignor, retains title to the goods and authorizes the seller, known as the consignee, to sell them. For example, an art gallery selling original art is usually a consignee for the ...