Buford is a hypothetical U.S. television manufacturer. The following table shows Buford's production costs of producing one television. Note that Buford denominates the costs of its inputs in dollars as well as pounds.

Initially, in period 1, the exchange value of the dollar is $0.80 per pound.

Complete the Period 1 section in the following table by calculating the pound equivalent of the input costs and Buford's total cost of producing one television.

Cost of Producing One Television Period 1: $0.80 per Pound Period 2: $0.50 per Pound Cost Equivalent Cost Equivalent (Dollar) (Pound) (Dollar) (Pound) Labor 160.00 200.00 160.00 320.00 Dollar-denominated inputs 120.00 150.00 120.00 Pound-denominated inputs 100.00 125.00 Energy cost 50.00 62.50 50.00 100.00 Total cost 430.00