The purpose of this research project is to provide you with hands-on experience with searching and locating the appropriate authoritative accounting standards when needed using the FASB Codification Database. To complete the project, you must search and locate the appropriate authoritative accounting standards using the FASB Codification Database for the two situations described below. You are working as staff accountant Research Questions Firm. Your firm provides variety of services to clients dealing with accounting, tax, and auditing. One of the clients of your firm, Lowrance Company (a merchandising company), has approached your firm for guidance. The Partner of your firm has assigned you to this task.