Sort of. It's 1 knitted row, then 5 purled rows, then 5 knitted rows, then 5 purled rows, then 5 knitted rows, then 5 purled rows, then 1 knitted row, and then bound off.

So it isn't 1 purled row, 1 knitted row, 1 purled row, but it does follow that theory, just stretched out a bit. I felt it helped make the cowl fold in on itself so it was extra warm.