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Default Use a code to populate a cell with a specific value

I am using a spreadsheet to track print jobs. One of the things I track is
the type of paper used and the cost of each piece for each job. Each paper
stock is assigned a stock code and has a unique cost. I want to be able to
enter the code and have the cost of the paper automatically come up in the
next cell. I currently have 16 different codes and each one has a different
cost. For instance, I want to enter the code PS1 in cell K5 and want it to
put the cost associated with PS1 (.03) in cell L5. I have tried to use the IF
function, but you can only nest 7 in a cell (I think). Any ideas? Any help
would be appreciated. Thanks!


 
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