Comparing values in two columns on two sheets

I am not sure how to do this, but I'm hoping some of you Excel brainiacs can help me out.

I have 2 Sheets in an Excel 2007 file.

Sheet 1 is our Price Book and has two columns - "Part #" and "Part Price"
Sheet 2 is our Sales Record and has two columns - "Part #" and "Actual Sold Price"

I would like to add a third column to Sheet 2 - "Price Difference". I would like this column to take a Part #, find it on Sheet 1, and display the corresponding "Part Price". Ideally, this formula would calculate the difference between the Part Price and the Actual Sold Price, either in a dollar amount or a percentage.

Can anyone help?

Thanks!

Under Column 3 in Sheet2, assuming row 1 are headings and row 2 is where you data starts:

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B2 are Actual Sold Prices
A2 are Part #

The VLOOKUP formular is saying, look up the Part # in A2 in column A in Sheet1, look in the second column within A to B (which is B) and show the Part Price.