Can I use this h-bridge variation for power inverter application?
This does not look like a good idea.  The problem is that both top transistors can be on for a while at switch-over.  Remember that the motor make a connection too.  Think of replacing the motor with a resistor and you can see that both top transistors are initially driven on when one of the bottom transistors goes on.  Also consider that it takes a little while for each top transistor to turn off after its base voltage is raised.