Formula and Calculation Help

[MilhoanDesign]

I am trying to solve the problem that I have illustrated in the image below. I am trying to create/calculate (see image) {Rate} and {Day Total}. In the below example, the first record for "Old Cypress - Weaned Calves," if the "Weaned Calves" == "Pasture" then pull in the value .70, and then multiply that value with the "Inventory" of 450. This will result in a "Day Rate" of $350. Any help will be appreciated! Thank you! 

[Arthur_Tutt · Accepted solution]

@MilhoanDesign Put together a formula you can use to calculate the day rate. Also recorded a quick Loom Video to take you though step by step how I set it up. 

Table Structure:

 

 

 Day Rate Formula:

IF(
  {Location} = "Pasture",
  {Inventory} * {Pasture Rate},
  IF(
    {Location} = "On Hay",
    {Inventory} * {On Hay Rate},
    IF(
      {Location} = "On Windrow",
      {Inventory} * {On Windrow Rate}
    )
  )
)

[MilhoanDesign]

Arthur,

Thank you so very much for helping me out with this; I knew it had to be much simpler than what I was trying to do and this works perfectly! 

Thank you again! 

Walker