uomprenenswe PI'ODIEIII HA The Stanley Works operates as a merchandiser of fastening devices. The company uses the FIFO method of assigning costs to inventory and cost of goods sold under a periodic inventory system. The inventory balance of $3,969 is composed of 90 units purchased on December 22nd for $44.10 a unit. The company uses the effective interest method to amortize bond premiums and discounts. The Company's common stock has a $1 par value. The trial balance for The Stanley Works as of December 31, 2016 was as follows