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Default excel lookup help... already have formula but doesnt always work

Hello,

I have a spreadsheet with two different sheets.
Sheet 2 has Pipe Specs..

ie. sheet 2
column 2 has "names"
column 3 has "inches"
name1 32.1
name2 64.1
etc

sheet 1 has a lot more data. It has the pipe spec names as well... and
there is a formula that I created to grab data from sheet2 and put it in the
adjacent cell in sheet1.

so in sheet 1.. i say i have "name1"... the cell beside it contains a
formula that will automatically put in 32.1.

The formula i used is-

=IF(LOOKUP(E138,'Pipe Specs'!B:B)=E138,LOOKUP(E138,'Pipe Specs'!B:B,'Pipe
Specs'!C:C),"Not Found")

the problem i have is.. that when i add a new pipe spec in sheet2... it
comes up as "Not Found" on sheet1.... but all the older ones get the right
inches..

any help would be greatly appreciated. I think i am missing somethign simple.
 
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