It's great to be proactive like that. I was pretty happy to have inventory before Xmas came in.
If you have the time now, I would definitely detrash the Xmas mdse. It does depend on how much space you can get as to how you will store everything. I would unpack everything into repacks. Many of the mugs are in gift boxes, and what isnt leave in the cellophane wrappers to keep from scratching. Get rid of as much packaging as you can while keeping the mdse safe.
I would unpack and separate the retail food/coffee items, and also put them into repacks. The 5lb coffee, syrups, etc make room for in BOH. Also put the Xmas GCs under the register. Everything should be palletized and waiting for you.
Because you have inventory, I would print the TINV and go ahead and fill in the counts on the stuff that goes back into the repacks.
When the signing gets in, I try to build what I can early as well.