Unity "unequip" selected item from inventory.

Hello everyone, Im trying to make a inventory system in unity.

What ive got so far is this:

 using UnityEngine;
 using System.Collections;
 using System.Collections.Generic;
 public class playerInventory : MonoBehaviour {
     public int currentWeapon;
     public GameObject test;
     public int selected = 0;
     public bool equipped = false;
     
     
     List<GameObject> inventory = new List<GameObject>();
     
     // Use this for initialization
     void Start () {
         
         inventory.Add(test);
         Debug.Log (inventory.Count);
         
         
         
     }
     
     // Update is called once per frame
     void Update () {
         loopThroughBackpack ();
     }
     
     void loopThroughBackpack(){
         if (Input.GetKeyDown (KeyCode.Alpha1)) {
             selected = 0;
             GameObject item = GameObject.Instantiate(inventory[selected], transform.parent.position, transform.parent.rotation) as GameObject;
             if(equipped == true){
                 equipped = false;
                 Destroy(item);
                 Debug.Log("Item unequipped");
                 
             }else if(equipped == false){
                 Debug.Log("Object equipped");
                 equipped = true;
                 item.transform.parent = gameObject.transform;
                 item.transform.localPosition = new Vector3(0.6f,-0.5f,1);
                 item.transform.localRotation = Quaternion.identity;
             }
             
             
             
             
             
         }
         else if(Input.GetKeyDown(KeyCode.Alpha2)){
             selected = 1;
             
             
         }
         
         
         
     }        
 }
 
 

Now when i destroy the instantiated object it doesnt actually destroy? it stays in the scene parented to the players character?

Also the canteen(instantiated object from the list) will contain variables about how much water is left etc, so how do i go about removing it without harming the canteens data?