$(document).ready(function() {	
	itemOddEven("ul.collection", "li");
});

function itemOddEven( parent, child ) {
	
	var countLI = $(parent +" > "+child).length;
	var parentAndChild = parent +" "+child
	$(parentAndChild)
		// As the index for items starts at 0 - even will be the first items
		.filter(":odd").addClass("Even").end()
		.filter(":even").addClass("Odd").end();
		
	if ($(parentAndChild +":last-child").hasClass("Even")) {
		$(parentAndChild +":last-child").prev().andSelf().addClass("Last");
	}
	else {
		$(parentAndChild +":last-child").addClass("Last");
	}
	
}