It's in his/her personal inventory. There's a tab once you click on the details (under the little arrow) attached to the Sim's wishes, etc. box down at the bottom of the page.
Yep anything given to you by your job or school will be in your sims inventory.
It's a very helpful tool... and if you click "open" on a bookcase or refrigerator (for example) you can drag items from the bookcase/frig to your inventory and vice versa.
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It's a very helpful tool... and if you click "open" on a bookcase or refrigerator (for example) you can drag items from the bookcase/frig to your inventory and vice versa.