Is the IF function the best way?

I have a column that may have 11 different items. (column B) What I need to do is assign each item a letter (A=chicken B=Fish C=Beef) and assign a number for each one (A=100, B=200, C=300) I need to have the number show in the cell and be able to use that number in a SUM calculation. In the Total column. Hope this makes sense, Thanks!!