Is it possible to pay affiliates for items that I dropship

So my thoughts are:
Getting a product for $5 via wholesaler - free shipping.

Now can I open a store with the product, put a price tag - $20.

Open a ClickBank account and get people to promote the product. Once I sell something - I pay % to the affiliate that brought me the customer.

Would ClickBank accept items that are being dropshipped?

Thanks!

Bringing a middle man to your "being the middle man" project sounds wierd to me.. what if the customer wants a refund? Are you asking for a refund to the guy who sent you that customer? I could simply send you 100's of clients, ask for refunds and keep your affiliate money .

The customer asks for a refund from me. Not from the affiliate. I get in touch with the wholesaler and arrange it.

Set up a discount code to use at checkout for 5% off, send it to the affiliate marketer and let them give it to buyer. Each sale that uses the code, keep track and give the affiliate their cut once a (insert time frame here)

Alt method: give affiliate a link to your site with a tracking cookie in it to monitor all sales that go through that cookie. Both methods will require setting up additional software, but piggybacking on the affiliates marketing network will most likely pay off.

Yeah, I was thinking about something like that.