Amazon.com Inc., the e-commerce giant, entered into long-term contracts with several vendors for the supply of goods. In the fiscal year ending December 31, 2023, Amazon recognized revenue totaling $50,000,000 from these contracts. Dive into the intricacies of revenue recognition:

• Examine the criteria under ASC 606 for revenue recognition and assess Amazon's compliance with these standards.
• Investigate the impact of contract modifications, variable consideration, and performance obligations on Amazon's revenue recognition policies.
• Analyze the disclosure requirements under ASC 606 and evaluate Amazon's adherence to these guidelines in its financial statements.