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In this Excel tutorial, Sharon Smith demonstrates how to create a simple and effective inventory list suitable for managing small business inventory or personal items. She covers essential data columns to include, demonstrates conditional formatting to highlight items that need reordering, and provides an overview of pivot tables for easier data analysis. The tutorial is presented as a step-by-step guide, starting from scratch. Sharon also mentions that viewers can purchase the template used in the video via a link in the description, aimed at saving time and facilitating the process.