Normally the answer is yes.
LME is 80% DME plus 20% water.
To convert a DME weight to LME, multiply by 1.25
To convert an LME weight to DME, multiply by 0.8
i.e:
8 lbs DME = 8 * 1.25 = 10 lbs LME
10 lbs LME = 10 * 0.8 = 8 lbs DME
There is however one gotcha.
There used to be a very popular product made by Edme called DME. In this product, the D stood for diastatic, and not dry. (It was a syrup). If a recipe calls for this product, the weights will be specified in LME units, and the recipe may require the diastase for starch conversion.
-a.