Problems understanding directions for hat (beanie ) pattern

[Rennagayle]

I am making this beanie.

As per the pattern, I Cast On 80 stitches, and worked 6" of 4x4 ribbbing. I am now ready to begin the decrease.

The decrease instructions begin as:

Row 1: * K1, K2tog, K1, P2tog, P1 * around.

Row 2 & even numbered rows: Knit the knits, Purl the purls.

Row 1's decrease pattern adds up to 7 stitches, which does not divide evenly into 80 (number of stitches on my needles). Is the pattern in error, or when a pattern reads that way, am I supposed to just know to continue the pattern and ignore the point which was previously the end of a round?