Attach a formula to a word.

[diveinshallow]

I have been asked to develop a spreadsheet for itemized charitable donation deductions. I have been going through his many pages of Goodwill donations and it's pretty basic stuff, but I would like to turn this into a continuing usable spreadsheet for the staff.
I would like to know if there is a way to attach a formula to a word. For example: In the future if they donate a white shirt, I would like the spreadsheet the recognize 'shirt' and give it an assigned value, lets say $3. So when they type in white shirt it shows $3 in the adjacent cell.

If there is something like this available for download I would like that also.

[keithl816]

=IF(A1="shirt",3,"")

Change A1 to the cell you are referencing

[diveinshallow]

I entered that formula into cell A1 to test and nothing happend.

[diveinshallow]

How would I apply this formula to any new cells that would be added?

[keithl816]

Place the formula into cell B1 then enter shirt in A1

[diveinshallow]

Thank you for your help! Now in the future if someone would like to add a new item in how would they use the formula if they insert a new row? Or is there a way to add a new item without inserting a new row?