Which of the following statements are TRUE with respect to liabilities?

A. A current liability is an obligation that can reasonably be expected to be paid within the operating cycle of a business.

B. Unearned revenues should be classified as other revenues on the income statement.

C. The face value of a note is also the principal amount due at maturity of the note.

D. If a company redeems notes and debentures, it adds debt to its statement of financial position.

Aug 1 Beginning inventory 20 units at $ 20 $ 400 Aug 15 Purchases 65 units at $ 25 1625 Aug 28 Purchases 15 units at $ 10 150 $ 2175 A physical count of inventory on August 31 reveals that there are 30 units on hand. Which of the following statements are TRUE?

A. Using the average cost method, the value of ending inventory $ 1522.5.

B. Using the FIFO method, the amount allocated to cost of sales for August is $ 1525.

C. Using the FIFO method, the amount allocated to cost of sales for August is $ 1650.

D. Using the LIFO method, the amount allocated to cost of sales for August is $ 1650.