» Using a VLOOKUP Formula to Check If a Value Exists

Problem:

Column B contains values to look up in List1 (Column A).
We want to modify the results returned by the VLOOKUP function to include the lookup term as well as an indication of whether or not the value was found.

Solution:

Use the IF, ISNA, and VLOOKUP functions as shown in the following formula:
=IF(ISNA(VLOOKUP(B2,$A$2:$A$7,1,FALSE)),B2&"Not Found",VLOOKUP(B2,$A$2:$A$7,1,FALSE)&"Found")