» Retrieving Sale Price Based on Item and Color Criteria

Problem:

Cells A1:C5 contain color and price data for a range of items.
We want to find the matching price for each pair of item and color values entered in cells A9:B11.
Solution:

Use the INDEX and MATCH functions as shown in the following Array formula:
{=INDEX($C$2:$C$5,MATCH(1,($A$2:$A$5=A9)*($B$2:$B$5=B9),0))}