Function

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Code for the function:


=INDIRECT(ADDRESS(1 + XMATCH(MAXIFS(datecolumn, idcolumn, itemid), datecolumn), stockcolumn))

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Variables/"Argument Placeholders":


- datecolumn
    This is the column in a table for the timestamp. Ex: Sales_Data[Time:] Sales_Data is the name of the table, and Time: is the name of the column. The brackets are required.

- idcolumn
    This is the column in a table for the IDs. Ex: Sales_Data[ID:] Sales_Data is the name of the table, and ID: is the name of the column. The brackets are required.

- stockcolumn
    This is the column with the actual status. (Ex: 4) This value MUST be a number, where column A is 1, column B is 2, and so on and so forth.

- itemid 
    This is the ID used to differentiate the product you want the data for from all the other products. Ex: "#Pants" if the id is anything other than a number, it MUST be in quotes to signify a string.

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How it works

 Step 1:
    The MAXIFS function finds the largest date (which is the most recent) that corresponds to the ID.
 Step 2:
    The XMATCH function finds the row containing the date from step 1.
 Step 3:
    The ADDRESS function provides a cell reference as a string.
        Row:    Assuming that the table is at the top of the sheet, 1 + XMATCH is used to account for the table title and provide the actual row number.
        Column: this is purely the stockcolumn value.
Step 4:
    The INDIRECT function displays the contents of the calculated address.