I want to check my interpretation of the kitchener rib bind off IN THE ROUND (because it is looking funny when I do it, and this is actually the second time I'm attempting this, so I really want to get it right this time

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Instructions (and I don't have the book in front of me so bear with me - I may have the two rounds reversed, but the spirit of the question is still the same I think)
First of last 2 K1, P1 rib rounds, knit all knit stitches, slip purl stitches with yarn in front
Next rib round, purl all purl stitches, slip knit stitches with yarn in back
Next round do the actual bind off
So my question is - how am I supposed to be slipping the stitches - on row 1, where I'm slipping purl stitches, do I slip them as if to knit or as if to purl - likewise with row 2
Any thoughts on this? If you have the Big Book of Knitting, there is a page on this in there - but it never says how to slip the stitches (is it something I'm just supposed to know?) And it seems like it would make a big difference - that is, how the stitches end of lying (laying?) on the needle..
