I strongly disagree with posting the idea to purchase Costco gift with the intent to return them for cash. I also disagreed with the related system of purchasing diamond rings with the intent to return for cash.
Costco provides amazing customer service, and should not be taken advantage for it. The disappointing part is that because of the abuse of the Costco return policy there will likely be some non-abusing Costco customers that receive a lower level of service.