Which of the following statements is NOT correct about the revenue recognition policy of the Company. Refer to the notes to the financial statements for "Significant Accounting Policies". A liability for sales returns is based on historic rates of return. Unredeemed gift cards which have a non-remote likelihood of redemption are recorded as deferred revenue. Gift card breakage is not recorded as a revenue even if the likelihood of gift card redemption is remote. Sales to customers through retail stores are recognized at the time of purchase, net of a provision for returns