Google Play IAP Instuctions are incorrect in the cookbook. Correct procedure in thread....
Be carefull with the GOOGLE PLAY IAP cookbook instructions because they are wrong (as of today 23 September 2014 for those of you finding this in a search in the future! As im sure GS will change the instructions after this post!)
The cookbooks instructions state that you dont need to state where they are comsumable or non consumable. This is incorrect. It also states that you should choose "managed product". This is also incorrect.
So let me explain...
Google use the word "managed" for non consumables and "not managed" for consumables.
So if you are setting up a comsumable product like coins then you must select "not managed" and not "managed" as instructed in the cookbook.
If you follow the instructions in the cookbook, the game will add the coins everytime you visit the shop giving the user unlimited coins as it will give them the purchase on arrival in the store every time.
So to clarify, if your item is a comsumable item you should select "Not Mangaged" and if the item is a non consumable item you should select "Managed"