Hi,
It can be done if your accounts department agrees with it. Please confirm the material valuation as well.
But for transferring the stock between storage location of different company codes, you need to follow intercompany STO procedure. If its between plants of same company code, then you may either use 301 movement or 303 - 305 procedure or intra company STO. If its within the same plant, then you may use 311 or two step procedure.
Regards,
AKPT