$status=~s/P|F|C|D|I/Posted/g;
$status=~s/A/Accepted/g;
$status=~s/N/New/g;
$status=~s/R/Rejected/g;
$status=~s/S/Save/g;
$status=~s/X/Canceled/g;

my @strings = split /\|/, $status;
my @sorted_strings = sort @strings;
print "<br><font color=red>@sorted_strings</font><br>";
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Update: If there is for each record status is only one letter, then I misunderstood string 'P|F|C|D|I|A|N|R|S|X' and '|' stands for 'or'. In such case see blazar's post.