goods in transit

Goods in transit refer to products that have been shipped from the seller to the buyer but have not yet been received. They are in the process of moving between locations, such as a warehouse to a retail store or directly to a customer. During this period, the goods are considered part of the seller's inventory until they arrive at the destination. Proper management of goods in transit is important for accurate inventory tracking and financial accounting. Once the goods reach their destination, ownership typically transfers, and the buyer can recognize them as their inventory.