Cast on 124 sts with 4mm needles and work in 1x1 rib for about an inch. Change to 5mm needles. Keep first and last 5 sts in 1x1 rib, but on every right side row just knit all the other sts. This will create a broken rib pattern which looks like stretchy ribbing on one side
And creates this interesting texture on the other side
The best thing is it has all the stretch of ribbing, but you get to knit every other row which makes it go a bit quicker!
Continue working in broken rib with the knitted in button bands until you get to where you want the underarms to be, ending with a ws row. I did about 7".
Now, rib 5 and work 27 more sts in patt. Continue as before on these 32 sts only until about 4.25" from armpit divide, ending with a wrong side row.
Now, work 13 sts, k2tog, work to end of row.
Purl 16, p2tog, turn leaving first 13 sts on holder
K2tog, k to end
[k2tog, k to end. Work wrong side row without shaping]
Rep rows in  til 13 sts remain, leave on holder.
Rejoin wool at opposite side and reverse shapings to create second side.
Rejoin to centre sts and just work straight until length matches sides. Cast off 13 sts on next 2 rows, leave remaining sts on a holder.
It isn't really necessary to do anything to the armholes as long as your tension is ok. You could add some ribbing or something, but it wouldn't really be reversible then.
Graft shoulder stitches, or hold stitches from each shoulder and cast off the usual way but which two together, one from each needle, if you know what I mean. Grafting would be neater but you might be lazy like me.
Rejoin yarn at neck edge on right side. With 4mm needles, pick up and knit (keeping patt correct) the 13sts left on holder, pick up an even number of sts evenly along neck shaping, knit accross back neck sts, pick up down left neck and final 13 sts on the final holder. Work about 5 rows in 1x1 rib and bind off carefully in rib.
You could add some button loops and toggles which would keep it reversible. I might do that but at the moment I like that abi can easily take it off herself. It's just a sloppy, easygoing kind of garment. I want one please, you have no idea how good and squishy this yarn is, my photos do it no justice.
Here it is bobbly side out...
And smooth side out (which I slightly prefer)...
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