Double Criteria Search - Exact Match on First but Closest Match on Second

Have searched the boards and can't find this exact scenario, although odd, I imagine its quite common.

Example:

Item Cost Return Value
Car 100 A
Car 200 B
Car 300 C
Bus 100 D
Bus 200 E
Bus 300 F
Train 100 G
Train 200 H
Train 300 I

I need to search the table above to match two items: Item and Cost to return the 3rd column.
Column1 needs to be an exact match, but column2 needs to be a closest match that is less than or equal to the value requested.

e.g.
Car 350 should return C
Train 133 should return G

I've only seen solutions to the effect of an array formula index(match( concatenating the two ranges and then using a closest match but that doesn't work as this isn't an ordered list by any means.

Please, does anyone have any suggestions? I've been stuck for hours.... Thank you in advance!
Double Example.xls

Thanks so much Jerry! Worked like a charm. I see now that the sorting is key, duh! You've saved me! Thanks again.

Originally Posted by OnErrorGoto0

If the data is sorted on A and B, then
=LOOKUP(2,1/((A2:A10=E2)*(B2:B10<=F2)),C2:C10)

By the way, JBeaucaire's second formula will only work properly if all the numbers have the same number of digits (since it is treating them as text).

Thanks for pointing out the text issue, as I did run into that problem once I increased the number of digits. What a great forum full of brilliant people!

I've checked the forums and have just one last question. Would appreciate if someone could please recommend any books or articles on advanced Excel array formulas (not VBA).