Final answer:
False. Goods out on consignment should not be included in the inventory of the consignor.
Step-by-step explanation:
The statement that 'Goods out on consignment should be included in the inventory of the consignor' is False.
When goods are sent out on consignment, they are still owned by the consignor until they are sold. Therefore, they should not be included in the consignor's inventory. Instead, the consignee, who has received the goods on consignment, should include them in their inventory.
For example, if a clothing manufacturer sends a batch of clothes to a retail store on consignment, the manufacturer does not consider these goods as part of their inventory. The retail store, on the other hand, includes these consigned clothes in their inventory, as they are responsible for selling them.