Using Vlookup of GM% to calculate a price

[nander]

I'm looking for a simple, efficient way of arranging a tiered Gross margin table in a price sheet that will use the cost in a cell to look up the corresponding gross margin from the tiered table. I've attached an example. How should the tiered table be constructed and what vlookup or if statement would be needed to return the correct gross margin % from the table?

[tlafferty]

If you select your pricing data and name it TieredPricingLookup, then you can use:

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The TRUE argument means use the closest match to the price entered. Fill down as needed.

[nander]

If you select your pricing data and name it TieredPricingLookup, then you can use:

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The TRUE argument means use the closest match to the price entered. Fill down as needed.

I've taken a stab at naming the table and inserting the formula you gave. However the formula returns a circular reference error. I'm not that familiar with naming a table. I did a search to instruct me but since the formula did not respond I doubted if I named the table correctly. I've attached the latest version. I'd appreciate your corrections. Thank you