Auto populate data in other columns by selecting dropdown value in primary column

Dajah

I'd like to select an item from the dropdown menu in my primary column, and have the two following columns fill with predetermined information. 

 

Example: 

We have 100 items. When I select one from the dropdown menu in column 1, the following two columns automatically fill in the prices associated with that item. 

 

Can this be done? It would make a huge decrease in the number of potential mistakes made when filling in these values manually. 

Brett Evans

you would want to use the lookup function

https://help.smartsheet.com/articles/775363-using-formulas#lookup

Dajah

Thank you! Follup question:

Can the lookup function reference data in another sheet? 

I cannot think of a way to put all the reference data on the same sheet we need the values to be populated on.

Manuelf

Just in case someone finds this thread, using Vlookup is an option and it indeed can reference other sheets. Though I strongly advise you to use the INDEX and MATCH function, it works the same as vlookup, is more flexible, but most importantly, it consumes A LOT LESS resources than the Vlookup does.