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Default vLookup from 2 different lists

I have a pallet of product to be disposed of and I need to check whether its
serial number appears on a "Approved" list or a "Not Approved" list (2
different sheets both lists named). I have currently have 2 colomns (1 for
each list) but would like to have only 1 colomn to show whether a product is
"Approved" "Not Approved" or " Not Dealt with".
Thanks for any help.
 
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