The answer depends on who is interpreting it. In general the answer is 'Absolutely Not.'
I would suggest that the subtleties of this question are too complex to be answered directly, as different traditions exist on how to interpret the text, and variation exists within those traditions as to whether you can, if you wish, interpret something literally. A few points:
- The text cannot be entirely literal
- The text does not interpret itself
- The text contains a variety of genres with different interpretation styles
- A given verse is not traditionally limited to one interpretation
Sometimes the text will say something that seems like it must be taken literally, but even then context is important. For instance, when an Epistle says that 'all scripture is good for teaching... (etc)' this refers to not all of our scripture, but to whatever collection of scripture the writer was referring to, most likely a collection of Old Testament texts (the Septuagint.)
This then does not even begin to address the different 'Bibles' that exist, and how the addition of certain books (or their removal) could affect the context of the whole and therefore the interpretation of some verses.