Spreadsheets are 2 dimensional: Item & facts about each item. Db adds additional dimensions, like Time (events): “On this date, Item status was changed to Disposed”.
You have a good idea of your 2D data already. Add a table to record events based on UID for each item, with a relationship between the two tables (UID). And maybe a table of each of your locations:
Table 1, Items:
ItemUID, SN, Description, Status, Location, blah, blah, blah…
Table 2, Locations:
LocationUID, Description, AnythingElseAboutTheLocationYouWantToRecord
Table 3, Events:
EventUID, ItemUID, LocationUID, DescriptonOfEvent, TypeOfEvent, Errata
So after populating the first two tables, table 3 will start to look like this:
00001, 1463, 04, asset missing, Loss, John reports missing HD from storage.
00002, 6245, 02, malfunction, mechanical failure, Sarah's mouse broken (again).
00003, 2831, 01, transfer, movement, HD moved from store 1 to store 3.
Columns like Status could be a limited set of options (Loss, Mechanical, Movement, etc.)
Is this the direction you were thinking? You might be able to google asset database for a pre-made one, or additional hints.