I use Excel for both my inventory and wishlist.
For my MAC collection, I have a tab/sheet for each product type (lipsticks, lip glosses, blushes, eyeshadows, etc.). Then I have different columns that I can filter/sort (shade, collection, permanent/LE, finish/formula, etc.).
My wishlist is also on Excel. Each collection has its own tab. The color story is on the first column. I highlight the products I want/need and key in the price on the next column. I cross out anything I already have or don't intend to buy. At the bottom of the list, I have the total, so I have an idea how much I can expect to spend on that collection (and if it's within my budget... if not, I'll need to cut my list down).
I hope that helps!