Conditional formula

I wonder if anyone can help.

I have a sheet where I wish to enter the letter "F" in the column "fav" aligned to the horse that has the shortest starting price (SP).

For example in the attached sheet in the first race (R1) number 6. Fire N Ice is the favourite with the shortest price of 3.29, in race 2 it would be gravitational with an SP of 2.29. A formula would then enable me to auto populate the fav column.

Thanks in advance

Wayne

In S2 copied down:

=IF(R2=MINIFS($R$2:$R$258,$D$2:$D$258,D2,$F$2:$F$258,F2,$G$2:$G$258,G2),"F","")

Brilliant.

Thank you so much Ali!!

No probs.