Row limits by item then by date

[recumbent55]

I have an imported file from my business system which contains the following information: Item_ID, Receipt_Date, Receipt_Number, Average_Lead_Time, and Actual_Lead_Time. The report shows every receipt of an item since my business system was installed, which means many items have 20+ entries. I would like my report to only show the two latest receipts of an item. Is this possible through Excel?

Thanks in advance!