Automatically Input Cost of Item Based on Item Name?

Hi everyone,

I would like Excel to automate inputting the cost of an item based on the name I input, but not sure if it's possible?

I have a sheet with a list of my product names and their costs. I'd like Excel to gather the cost from this sheet.

I have another sheet that is my P&L. In my P&L, the columns are as follows:

Item Name | Qty | Cost | Profit

For example: If I input "Sony PS4" in my Item Name, I'd like Excel to search in the product cost sheet for "Sony PS4" and input the cost automatically into the "Cost" cell, after multiplying by the "QTY."

If it's possible, I'd like to know how that can be achieved.

Thanks so much guys!

Thanks so much! That is exactly what I'm looking for!

Wow Excel is VERY powerful. Do you have any recommendations on Youtube channels that teach more advanced Excel? By advanced, I mean teaching functions other than the formulas +, -, x, /, and average.