Can I set a localhost URL as an OAuth Redirect URI?

Is it possible to set http://localhost/ringcentral/index.php as OAuth Redirect URI?

My app's authorization flows are

• Authorization Code
• Refresh Access Token

I don't have a live and publicly accessible URL to set as an OAuth Redirect URI, so I don't know how to complete the OAuth process.

I'm trying to set up and run the following demo:

https://github.com/ringcentral/ringcentral-php

Thanks!