Values range in small cold beer (5)
I believe the answer is:
scale
'values range' is the definition.
'scale' can be an answer for 'range' (I've seen this before). I'm not certain of the 'values' bit.
'small cold beer' is the wordplay.
'small' becomes 's' (abbreviation - e.g. clothes size).
'cold' becomes 'c' (eg on taps).
'beer' becomes 'ale' (type of beer).
's'+'c'+'ale'='SCALE'
'in' is the link.
Can you help me to learn more?
(Other definitions for scale that I've seen before include "Size ratio; skin flake" , "Relative extent as of laces" , "Climb, or series of notes in music" , "Plate protecting the skin of fish and reptiles" , "Weigh up" .)