Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
MOULTON PAUL G
  2. Issuer Name and Ticker or Trading Symbol
COSTCO WHOLESALE CORP /NEW [COST]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
Executive VP
(Last)
(First)
(Middle)
999 LAKE DRIVE
3. Date of Earliest Transaction (Month/Day/Year)
04/24/2008
(Street)

ISSAQUAH, WA 98027
4. If Amendment, Date Original Filed(Month/Day/Year)
6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)
7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 04/24/2008   M   15,000 A $ 37.35 49,531 D  
Common Stock 04/24/2008   M   15,000 A $ 43.79 64,531 D  
Common Stock 04/24/2008   S   30,000 D (1) 34,531 D  

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)
6. Date Exercisable and Expiration Date
(Month/Day/Year)
7. Title and Amount of Underlying Securities
(Instr. 3 and 4)
8. Price of Derivative Security
(Instr. 5)
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)
11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Stock Option $ 37.35 04/24/2008   M     15,000 04/01/2004 04/01/2014 Common Stock 15,000 $ 37.35 15,000 D  
Stock Option $ 43.79 04/24/2008   M     15,000 04/01/2005 04/01/2015 Common Stock 15,000 $ 43.79 30,000 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
MOULTON PAUL G
999 LAKE DRIVE
ISSAQUAH, WA 98027
      Executive VP  

Signatures

 Deanna K. Nakashima, attorney-in-fact   04/24/2008
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) Sold as: 154 @ 69.2300 2100 @ 69.2350 300 @ 69.2400 346 @ 69.2500 2259 @ 69.2700 1900 @ 69.2750 200 @ 69.2800 800 @ 69.3000 300 @ 69.3050 900 @ 69.3200 1200 @ 69.3300 400 @ 69.3350 1046 @ 69.3400 205 @ 69.3500 200 @ 69.3550 100 @ 69.3600 720 @ 69.3700 100 @ 69.3750 300 @ 69.4000 439 @ 69.4100 200 @ 69.4200 100 @ 69.4300 100 @ 69.4700 531 @ 69.4800 100 @ 69.4825 900 @ 70.7300 6301 @ 70.7400 193 @ 70.7450 6306 @ 70.7500 500 @ 70.7550 800 @ 70.7600

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