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I am unfamiliar with trader joe's but costco does indeed have very good pricing on wine, it is available in large quantities, and they stock some high quality wine. Wherever you go I suggest you take a friend who may be familiar with win to help you make the selection.
Dave
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On further reflection it occurs to me that although you have specified "inexpensive wine" you may have a few guests with more discerning tastes. Maybe you should pickup a few bottles of nicer wines in case someone inquires.
As an example, I attended a retirement party this week where the only beer available was bud, mill, etc. So I requested a wine, merlot to be exact, and was served a blackberry merlot. Then i requested a rum and coke and was served a rum and pepsi. Totally depressing and is my lasting memory of the night.
Dave
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I've been known to purchase Alice White / Lexia at Trader's by the case.
Usually a dollar cheaper per bottle than anywhere else.
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Try getting the 1.5 liter bottles of Yellowtail Cabernet & Merlot for reds, and the Yellowtail Chardonnay and some inexpensive Pinot Grigio/Pinot Gris for the whites. Inexpensive, quite good, and convenient size bottles.