I didn't start recording my findings early on so I can't be sure but it definitely seemed like there was some inconsistency in my results. I basically made multiple save files shortly after Zevlor knocks out the adventurer whose name I can't remember, then had Astarion go talk to Dammon. I tried to determined if their inventory was generated when you first talked to them, when they were first spawned in, or when their subzone (The Hollow in this case) was first spawned in. My multiple saves were all made within 7 minutes of each other and had Astarion starting from different ranges from Dammon. At first most of the results were different. While I didn't remember the exact inventories the gold totals were generally slightly different and I remember one or two items that stood out from each inventory that was generated so I knew they were definitely different. Strangely enough after repeating the experiment a few times three of my four saves began to yield the exact same inventory despite being different intially. He had the same 999 gold and the exact same items. Only my initial save farthest away from him yielded a different result but that result's inventory was consistent with itself from reload to reload.

Does anyone know what caused all of the other save files to eventually yield the same results despite giving different results initially? Does anyone know when merchant inventory is determined?