There are basically three ways to do two (or more) color knitting: 1. horizontal stripes 2. stranded knitting, such as fairisle or jacard 3. intarsia Intarsia in the round, while possible, is so...
If you are speaking of the completed piece, then yes. All amounts are approximate and there will be leftovers because of the variations in knitting such as tension or different needles. Any hand work...