Narrator and point of view

The short story “The Raft” by Peter Orner is told in the first-person by a boy narrator who is also a character. As a result, the boy has limited knowledge of what will happen and the other characters.

Although he already knows the story his grandfather is about to tell him, he does not know anything about the way Seymour is going to tell the story this time: “And I see now that it's not how many times you hear a story but where you hear it that matters. I've heard this before, but this is the first time I've been in a closet alone with my grandfather.” (p. 126, ll. 15-18)

Also, the narrator has limited knowledge as far as what the other characters think and can only make assumptions based on their reactions:

"Why?" I say. "Why, if you knew it wasn't --"
"Why?" he says, not as if he's repeating my question but as if he really doesn't know. (p...