Final answer:
The UCC applies to contracts for the sale of goods regardless of the value, so the UCC covers transactions less than $500. The requirement for a written contract applies to transactions $500 or more, but doesn't nullify the applicability of UCC to smaller transactions.
Step-by-step explanation:
The Uniform Commercial Code (UCC) indeed applies to contracts for the sale of goods even if the value of the goods is less than $500. The UCC, specifically Article 2, governs contracts for the sale of goods in the United States. While it is true that the UCC requires contracts for the sale of goods priced at $500 or more to be in writing to be enforceable (according to the Statute of Frauds within the UCC), this does not imply that the UCC does not apply to transactions under $500. For transactions under $500, the UCC's provisions still govern terms of the sale, warranties, and other relevant aspects of the sale of goods. Therefore, the statement is true: the UCC does apply to contracts for the sale of goods even if the value of the goods is less than $500.