Getting the key value after an insert

[admin]

Let's say you're inserting a new row into a table where you have an auto-incrementing key field.

Is there a way to tell what the value of that key field is right after you do the insert?

Like when you have:

$result = mysql_query('INSERT QUERY');

Can you somehow use the $result variable to tell what the id of your new record is?

Thanks in advance to the crazy cool person who can help me!!!