Same Item Master Across BG possible?

Hi,

Would appreciate if somebody can through light on having single item master across multiple business groups having multiple Ledgers. Our requirement is to have a single item master thoughout the instance so that common items across business groups will be same and would meet reporting requirements at high level.

I have tried to see same item master  in LOV of item master column in organization parameters window in multiple BGs while creating Inventory organizations. However due to security profile of Business Group assigned to the responsiblity, I could not see item master created in One BG into the other.