But even Costco was forced to rein in its no-questions-asked policy a year ago because so many people were returning televisions, computers and big-ticket electronics. The problem was that prices were dropping for these items, and a year-old TV was worth only a fraction of what it was sold for. The chain was racking up losses of between $180 million to $200 million a year exchanging big-ticket electronics devices that had to be salvaged or destroyed for “cents on the dollar,” says Chief Financial Officer Richard Galanti.

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