Create a custom List Calculated Coulmn using IF or Case structure

Question

I want to create a column in sharepoint 2010 foundation custom list which functions as the below code

If (Status = "Avail") then -1 ElseIf ((Status = "Apply") then 1 End IF

meaning that when ever while adding an item in the list the new column should have value 1 or -1 according to the option selected in column Status as Apply or Avail respectively.

Is it possible to create such a column

Answer 1

You'd want to do something like this:

=IF([Status]="Avail", "-1", "1")

This is a great resource on calculated columns.