The amount of stuff a company has in its warehouse at the close of a financial period. So...the inventory it has once the reporting period ends. The ending inventory.
Your wheelchair wheel wax factory reaches the end of its quarter. You have 500 cases of finished wheelchair wax sitting on shelves in your warehouse. That figure represents your ending inventory: the amount sitting in there at the end of the fiscal quarter.
The value of that inventory would get listed on your balance sheet. If each case of wax sells for $100, then your ending inventory figure would equal $50,000 (500 times $100).
The ending inventory for one period (in this situation, the 500 cases of wheelchair wax) becomes the beginning inventory for the next fiscal period.
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