Magic Items in combat transformation?

[PvK]

When I was using a dragon in Doms I, I was strongly under the impression that carried magic items return when the shapechanger transforms back into the form with the magic slots. Meanwhile, they are in never never land.

I do not think they get dropped on the battlefield, nor do they go to the lab when you transform outside of a battle, but I mainly assumed I was right and haven't tested much.

PvK