Cloning Items in Inventory App

Is there a way to clone items easily so that you do not need to recreate a new item with very similar attributes and values? For example, If I already have an item in my item list, and I just want to add a new variation based on this existing item, there should be an easily way to just clone this existing item, make the modification to a specific attribute, and then just save it. It would save people a lot of time.

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