Does Ascension 1 pack in shop that requires gold , Let your item’s in storage remain? Or not?
you don’t lose any items. the items/pets/trinkets you have equipped are placed in your bags/storage and will be replaced with level 1 items, but you don’t get a level 1 Pet or Trinket. when you reach a character level that is half of your items level, rounded up, you can equip that item again.
if you don’t have enough space in your bags for the 6-8 items you have equipped, you get a message saying you don’t have enough space and you can’t Ascend. just sell enough items to open enough space for your equipped items to be able to choose a Perk.