I am looking for an excel formula that will allow me run a formula on
select rows in a table. Here is the scenario, the table has a series
of identification columns and when an item in a row corresponds to one
of the identification columns there is a ?1? in the cell. Ie;

ID	Cost	Rate	A	B	C	D	E	
1	10	5%	1
2	10	7%		1
3	10	8%			1
4	10	9%				1
5	10	10%					1

Obviously its not that clean, but what I need is part of the formula
that select all the rows that have a 1 in A, or B and so on. End goal
is to run formulas that  would sum all costs for A items or B items,
give a weighted average of rates for all A items and so on. I just
cant figure out how to pull out only the A rows.

Use the sumif function.  If cost is column B and "A" is column D:

=sumif(d2:d6,1,b2:b6)

sumif contains 3 arguments, the range, criteria, and sum range.