multiply columns

[nonprofittreasurer]

I am trying to set up an inventory sheet in Excel 2007.
I have one column with a total and another with a price. I need to know how to multiply the total by the price for the third column of total inventory. example:
column A= 5
column B = $10.00
how do I get column C to be calculated for me to read $50.00?

 

[mikerickson]

Put this formula in C1
=A1*B1
and then drag downward.