How to make formula where the text value is the condition

[Fadwa_Majed]

Hello, I’m having troubles figuring away the proper way to make a formula that will:
"if the status = canceled or replaced, the value of the field should be = quantity-quantity (making it a 0) "
where the status is a single select field,
how can I make this work?
Many thanks in advance

[JonathanB]

Have you tried:

IF(OR({Status}="Canceled", {Status}="Replaced"), ({Quantity}-{Quantity}))

?