Yes, that will work fine. The problems only really start if you use car engine oils as they have 'friction modifier' additives. They are put there to reduce friction inside engines. That is ok in bikes with a dry clutch but will make a wet clutch slip. Most decent bike shops keep gear oils in stock for bikes and can offer you light medium or heavy grades. All will be ok for your wet clutch and choosing the right grade may well make a difference to the gearchange smoothness!
When my friend bought his brand new KTM from the showroom they sold it with 4 stroke engine oil for the gearbox and told him its the best stuff to use. They suggested motorex but i suppose KTM have a deal with them.
