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Default Need to do an EXACT LOOKUP

I want to compare Column A from two worksheets, and copy Column B from the
second into Column B if they are exact. For cell A1, if I use
=LOOKUP(A1,'Report'!A$2:A$6500,'Report!B$2:B$6500) , I end up getting the
'closest fit', but I would rather have blanks if they do not exactly match.
If I use something like
=IF(EXACT(A1,'Report'!A$2:A$6500),'Report'!B$2:B$6 500,""), then the formula
gives me the last value in the array comparison, which is always blank.

I can probably combine the LOOKUP with an AND IF(EXACT) somehow that will
weed out the ones I don't want, but there has to be a simple formula or
function for this.
 
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