Well, in a word - yes. Misrepresentation of a policy. You don't get your receipt before purchasing the item. You ask the employee about a policy and told incorrect information is wrong. If the employee did not know the policy they could have very easily pointed us to the customer service desk to look at the policy. It seems that an employee working at a store like this would know the policy especially since it is now commonplace.
We didn't but "stupidly" relied on their employee. Yes, that was stupid and will never happen again.
Funny thing being - we were planning on buying a new TV (the kind you hang on the wall) and now they lost a potential sale that would have happened very soon.