Absolutely!
I do it often enough. In truth, if I'm having trouble getting new crank bearings for a given rebuild, I'll put the top end together when I have the chance, then turn it upside down with a special wood block I made to protect the breather cover, and a stack of 4x4 + 2x4 to hold the back up level, resting on the rear cross-hole bungs. Then I do whatever I can until the bearings come in, and close it up last.