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Help with a formula
Hello,
This is probably a basic question... I am wondering how to input a formula that would allow me to calculate the value/price of something based on a dropdown selection.
For instance, column A would have a dropdown options listing different tree species. For example, Redwood, Elm, and Walnut.
Column B would have the board feet of a slab/board we have in stock.
I want column C to calculate the price of each board based off of the known value of the species. It would know that if the first cell has 'redwood' selected than the price is $7 per board foot, 'elm' has a price of $8 per board foot, 'walnut' has a price of $17 per board foot, etc. That would be multiplied with the board feet in column B to give me the value of the board.
I'm a spreadsheet rookie. Is this possible?
Comments

=IF([Column C Name]1 = "Walnut", [Column B Name]1 * 17, IF([Column C Name]1 = "elm", [Column B Name]1 * 8, IF([Column C Name]1 = "redwood", [Column B Name]1 * 7)))
Should do the trick.
 Put your own column name in the brackets. If your column name has no white space and doesn't end in a number, then you don't need the brackets.
 This formula assumes row 1 (hence the 1 after the column name)
 Format the column you put that formula in with the $ in the tool panel, to get a monetary value.
Hope that helps.

Thanks so much, Mike. This got me on track. I just had to swap out [Column C Name] with [Column A Name] because I was ending with a circular reference.
Exactly what I needed. Thank you!