The Alchemist's Laboratory is a kind of graphical guessing game written in Extended BASIC (with some nice effects like pouring things from flasks together into a bowl). It appears that the combinations that work are fixed. You are shown 3 different racks of magical ingredients, and starting with the first rack which is open, you have guess which 2 mixtures will unlock the next cabinet, and then the 3rd. Once you have all cabinets open, you have to figure out which mixture will create the Philosopher's stone (which can turn lead into gold). While some of the graphics (for BASIC) are cool, there is not a lot of game play other than figuring out the combinations. There are also mixtures that increase and decrease your strength, etc. although (not having the original instructions) I don't know if that has effect on gameplay later.
The gameplay itself is almost identical to another game by the same company called Lokar's Magic Staff, although with a different theme and graphics.
Title: The Alchemist's Laboratory
Author: ???
Publisher: Real Software
Released: November 1982
Requires: Color Computer 1,2 or 3, 16K RAM, Extended BASIC, cassette or disk