Can you pull inventory from archived product?

[AtTheFoster]

We are new to Shopify and are navigating our way around this new system. We have products that will not be available for sale online or in our store, but we want to be able to track the inventory going out. Our director gives signed items away as gifts. These are identified as separate items in a manual inventory on Google Sheets. I want to be able to keep track of this through Shopify. Is there a way to have an item archived and pull gifts from inventory, or is there something else we can do to track items not available for sale?