Is zakat due on things purchased with the intention of reselling?

When you buy something with the intention of reselling, zakat would be due on it, for example business inventory, real estate, car, or clothing; this is regardless of how much time elapses or how the item is used before resale for instance, lent or rented out. If there was no firm intention to resell the item at the time of purchase, where resale was only a possibility, then zakat would not be due on it until a firm intention is made. Once the item is sold zakat would be due on the proceeds after one lunar year has elapsed assuming the nisab had not been triggered already and he did not have a zakat anniversary.