Sounds simple but with everything else you will like to make it bettr later.  I recomend watching the Association video and see how richard put what he fields into place.  this will help you normalize you database.  the rest of the videos will show you how to do some of the things you may like to add to your database.  watch carefully the helper tables.  this will make your database super easy to use.  and when he points out the links to video for things he does in the Association videos go watch.  most of all take your time come back ask questions we will help you.  but this will give you a sold foundation to start with.  We have a greate team here and love to help.

V/r
Juan

Gary
I don't know how far along you are in the beginner courses yet, but don't concentrate to much on your database until you get through at least some of the Expert series. Maybe even into the Developer.

I agree with Juan, watch the Association videos on the planning specifically. While you are watching ask yourself how can I apply this lesson to my needs.  (May not be apparent up front.)

Board Feet is the easy part, it's just math. (Thickness  x Width  x Length) / 144  
Calculations are best left to the queries. NOT stored in the tables.  I do recommend you standardize your measurements in your tables. Don't mix feet and inches, then you have to convert first.  

That being said, it is a far cry from indicating whether or not you have the correct stock for a project.  You may have 300 Bd. Ft. worth of maple but if it is all in 1" x 2" x 96" then how does that apply to what you need for the dresser you want to build?

Speaking as a person who dabbles in woodworking as well I recommend that you check out the Helper Data video.  While I haven't put together something like you are speaking about I think it would be useful.
For some things you might want your own table, for others where you have only one or two things it can greatly reduce your amount of tables.  Specifically I'm thinking about the attributes of the wood.
Things like:
Saw method - Quarter sawn, rift sawn, plain sawn, etc.
Figure - curly, straight, birds eye, crotch, plain, etc.
Species - White Oak, Walnut, Bloodwood, Bubinga, Maple, Zebra, etc.
Thickness - 4/4, 6/4, 8/4

You get the idea.

Additional videos that might be helpful:
Access Search Seminar
Chef's Kitchen Helper  and more in depth in the
Access Developer 19.
Yeah, Richard is talking about making eggplant parmesan and scrambled eggs but it is mostly about Inventory, Recipes, Ingredients,
Products On Hand.