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In this Excel tutorial, Sharon Smith demonstrates how to create a simple and effective inventory list in Excel, suitable for small businesses or personal organization. She covers essential data columns to include, sets up conditional formatting to highlight items needing reordering, and briefly introduces pivot tables for easier data analysis. The tutorial is step-by-step, allowing viewers to create the inventory list from scratch. A link to purchase the template used in the video is provided in the description for those who want to save time. Smith begins by showcasing the inventory list to be created.