What happens if you fry the logic board on a ipod touch first generation?

This is for the tech-wiz. I was messing around with my ilive cause it wasn’t charging my ipod, and so I opened it up. I wanted to see if there was anything loose that I could probably fix. So while I had the ipod in the dock I was moving it around trying to get my ipod to charge. I saw some sparks from the part where you would dock your ipod to charge it so me being the smartest person (I say this sarcasticly) went took my screw driver and ran the screw driver across the dock where the wires were exposed. And there a was spark, but one spark wasn’t enough and I did it again and then all of the sudden my ipod shuts off and the back of it was hot where you would plug in to charge your ipod. I kind of paniced but didn’t really think anything of it. So I looked up online for a new battery and they’re not that expensive so I was kind of happy (thinking at first it was the battery that got damaged). But I went to go charge my ipod hopping that maybe some how something magical would happen and my ipod would be ok. But after a couple minutes my ilive started beeping and that’s never happened before, so I switched it to radio and the beeping stopped. Then I switched it back to ipod/aux and the beeping continued. So I grabbed my ipod took it out of the dock and it was really hot. It didn’t burn me but it really starled me. I don’t have the right tools so take everything apart and to look at the logic board, but I’m pretty sure now that’s what got ruined. So my question is what happenes when you fry the logic board on the ipod? Once it is damaged can you replace it, and if so how much does it cost? Or is that it the ipod is toast? Please help :/ I don’t even know how the hell I’m going to explain this to my parents but sooner or later I’m going to have to