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Array Lists

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I'm a beginner into vb.net, im doing a small billing software for my company.
I have list of product codes adjacent to which are the name of the product and its MRP in an excel file.
when the form loads i have given a code for it to refer to the excel file and add all these products into an arraylist.
Now whenever i enter the Product code in one coloumn of the DataGridView i want the product name and MRP to come in the adjacent columns.
how shud i approach to do this?? is arraylist the right option??

I have no idea about databases and servers, so i want to finish this without having to learn that.
Thank You :)

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