Use this command:
$ ansible-inventory -I /path/to/inventory --yaml --graph --vars
To get the variables dumped out like this:
@all
|--@group_1:
| |--host_a
| | |--{variable_a = Value}
| | |--{list_a = {u'alpha': 'alpha value', u'beta': 'beta value'}}
| | |--{host_a_variable = Special for host_a}
| |--host_b
| | |--{variable_a = Value}
| | |--{host_b_variable = Special for host_b}