Excel Formulas to use Basic inventory formula- Quickly!!
Tags: excelformula, excelformulas
Published: 2021-10-27 02:03:31

---
title: Excel Formulas to use Basic inventory formula- Quickly!!
published: true
date: 2021-10-26 11:29:17 UTC
tags: ExcelFormula,Excelformulas
canonical_url: https://geekexcel.com/excel-formulas-to-use-basic-inventory-formula-quickly/
---

Before entering this article, you need to know some basic formulas. Here, if you want to use a Basic Inventory Formula in Excel, what would you do? You are in the right place, we will help you with simple formulas to **use a basic inventory formula** in Excel 365. Follow the below-given formulas!! Get an official version of ** MS Excel**  from the following link: [https://www.microsoft.com/en-in/microsoft-365/excel](https://www.microsoft.com/en-in/microsoft-365/excel)

## Generic Formula

- To use a basic inventory formula, you need to use the below given formula.

```
=SUMIFS(In[Qty],In[Color],A1)-SUMIFS(Out[Qty],Out[Color],A1)

```

## Syntax Explanation

- **SUMIFS**  – In Excel, this function helps to sum the cells that meet multiple criteria.
- **Comma symbol (,)** – It is a separator which helps to separate a list of values.
- **Parenthesis ()** – The main purpose of this symbol is to group the elements.
- **Minus Operator (-)** – This symbol will help to subtract any two values.

## Practical Example

- Firstly, you need to **create a sample data** with **In, Out and Current inventory** in Excel.

![](https://eadn-wc04-371788.nxedge.io/cdn/wp-content/uploads/2021/10/Sample-data-53-1024x338.png)<figcaption>Sample data</figcaption>

- To calculate current stock, or inventory, you have to use the formula in **[formula bar](https://geekexcel.com/how-to-use-formula-bar-for-various-purpose-in-excel-365/)**.

```
=SUMIFS(In[Qty],In[Color],J7)-SUMIFS(Out[Qty],Out[Color],J7)

```

![](https://eadn-wc04-371788.nxedge.io/cdn/wp-content/uploads/2021/10/Use-Formula-1-1024x381.png)<figcaption>Use the Formula</figcaption>

- Then, you will get the  **result for the color red** as given below in **cell K7**.

![](https://eadn-wc04-371788.nxedge.io/cdn/wp-content/uploads/2021/10/Result-for-the-color-red-1024x338.png)<figcaption>Result for the color red</figcaption>

- Now, to calculate the current inventory for the color blue, you have to use the following formula in **[formula bar](https://geekexcel.com/how-to-use-formula-bar-for-various-purpose-in-excel-365/)**.

```
=SUMIFS(In[Qty],In[Color],J8)-SUMIFS(Out[Qty],Out[Color],J8)

```

![](https://eadn-wc04-371788.nxedge.io/cdn/wp-content/uploads/2021/10/Use-the-formula-for-blue-1024x376.png)<figcaption>Use the Formula</figcaption>

- After that, you will get the  **result for the color blue** as given below in **cell K8**.

![](https://eadn-wc04-371788.nxedge.io/cdn/wp-content/uploads/2021/10/Result-for-color-blue-1024x335.png)<figcaption>Result for the color blue</figcaption>

- To calculate the current inventory for the color green, you have to use the following formula in **[formula bar](https://geekexcel.com/how-to-use-formula-bar-for-various-purpose-in-excel-365/)**.

```
=SUMIFS(In[Qty],In[Color],J9)-SUMIFS(Out[Qty],Out[Color],J9)

```

![](https://eadn-wc04-371788.nxedge.io/cdn/wp-content/uploads/2021/10/Use-the-Formula-for-green-1024x382.png)<figcaption>Use the Formula</figcaption>

- Finally, you will get the  **result for the color green** as given below in **cell K9**.

![](https://eadn-wc04-371788.nxedge.io/cdn/wp-content/uploads/2021/10/Result-for-color-green-1024x334.png)<figcaption>Result for the color green</figcaption>

**Check this too:**

- [Excel Formulas to calculate Total rows in range](https://geekexcel.com/excel-formulas-to-calculate-total-rows-in-range-in-excel-office-365/)
- [Formulas to check Multiple cells have the same value case-sensitive!!](https://geekexcel.com/excel-formulas-to-check-multiple-cells-have-the-same-value-case-sensitive/)

## A Brief Synopsis

This article gives you complete information about the ** ** simple formulas to **use a basic inventory formula** in Excel 365. Hope that this article is useful to you. Don’t forget to share your valuable  **feedback**  in the below section. Thank you so much for Reading!! Keep learning on **[Geek Excel](https://geekexcel.com/)!! **And [**Excel Formulas**](https://geekexcel.com/excel-formula/) **!!**

**Further Reference:**

- **[Kutools For MS Excel & Office 365 Download & Tutorials!](https://geekexcel.com/get-kutools-for-ms-excel-2019-2016-2013-2010-2007-office-365/)**
- **[How to Copy a Cell Formatting from One Cell to Other Cells in Excel 365?](https://geekexcel.com/how-to-copy-a-cell-formatting-from-one-cell-to-other-cells-in-excel-365/)**
- **[Excel Formulas to Find the Nth Smallest Value from a Range!!](https://geekexcel.com/excel-formulas-find-nth-smallest-value/)**
- **[Lookup the Next Largest Value in Excel Office 365!!](https://geekexcel.com/lookup-the-next-largest-value-in-excel-office-365/)**
- **[Excel Formulas to Find the Last Column Number in a Range ~ Quickly!!](https://geekexcel.com/excel-formulas-to-find-last-column-number/)**