A bit of history: goto
Most languages have a goto instruction to jump into a certain line of code. However, no one ever uses this as this is messy and makes the code unmaintainable (really, if you use goto on a job interview, you will be thrown out immediately, lol).
Also, it seems like Python doesn't even support it at all. :)
There are some (very rare) valid cases when goto can be a valid choice, but I only saw this mostly for C where goto was used to jump to the last few lines of the function and run the cleanup phase before exiting the function, so the cleanup code wouldn't be copy pasted all over the place. Of course, there could have been other ways for this as well (e.g. a structure of if statements).
Structure your code
What you should consider instead is using classes and functions as I've shown you before.
Also, you can make a loop where you keep repeating the things. Consider the following pseudo code:
loop while player is still alive
So in the above example everything inside the would keep repeating as long as a certain condition is met (in this case, that the player is still alive).
You can consider your own loop for your game needs, but I thin this would work out fine.
And make a class for your inventory, so functionality could be easily reused by a call of a member function.
It's also a good idea to check out various tutorials and/or reference pages about Python so you'd be more familiar with the capabilities of the language. (For instance https://www.w3schools.com/python/default.asp.)
I hope this is not too vague. Give it a try and show what you came up with.
Good luck! :)