I am having a debate with our CEO on what we should recognize as revenue through sales via the Apple App Store. We sell a product for $10 but we recieve $7 from Apple. Our CEO is convinced we can recongize the full $10 and show the $3 as COGS.
I know ASC 605-45 guidelines essentailly say that since we are not the primary obligator, we would record only net revenue, however, there is some grey areas since we are doing all of the sales,
Our there any other thoughts outside of ASC-605-45?