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How to make formula where the text value is the condition

Topic Labels: Formulas
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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

1 Reply 1

Have you tried:

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

?