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If you have a cPOS (or mPOS) with a "mobile" type layout (the "compact" one) applied, and you go to the Inventory Lookup screen you will see that the option to "View All Variants" is not present.

With a regular POS layout, you are presented with a choice of "View All Variants" and "Select a Variant", but the view all one is missing in the compact layout view.
STATUS DETAILS
Declined
Ideas Administrator

Thanks for the idea. This is not currently aligned with our product roadmap so we are marking it as Declined. - Boyce Zhu, Principal Product Manager for Dynamics 365 Commerce