Select by lowest cell value & group by column

Hi There,

I would appreciate, if anyone could help me with the following.

Item Qty Length Supp1 Supp2 Supp3.......Supplier7
A 2 100 $1.00 $2.00 $2.50
B 2 200 $1.50 $1.20 $1.70
B 6 100 $1.50 $1.70 $1.80
C 5 200 $1.30 $1.40 $1.20
C 5 100 $1.25 $1.20 $1.30


From the above list, I would like to know which supplier can supply the item at lowest price and based on that I would like to create a list of item with lowest price and the supplier for each item (orderby supplier) as below.

Item Qty Length Supplier Price
A 2 100 Supp1 $1.00
B 6 100 Supp1 $1.50
B 2 200 Supp2 $1.20
C 5 100 Supp2 $1.20
C 5 200 Supp3 $1.20

I hope you understand what I am after.

Thanks very much in advance. Any solution for above would be greatly appreciated.

Cheers,
Shital