Determine whether the following items should be included or excluded from the inventory account.

Select an answer Include Exclude	Freight out
Select an answer Include Exclude	Expenditures necessary to prepare goods for sale
Select an answer Include Exclude	Goods sold & in transit shipped FOB shipping point
Select an answer Include Exclude	Freight in
Select an answer Include Exclude	Good purchased & in transit shipped FOB shipping point
Select an answer Include Exclude	Goods purchased & in transit shipped FOB destination
Select an answer Include Exclude	Goods held on consignment, but owned by another company