Step 1: Remember the ordered sequence of lobar pneumonia in time: it begins with congestion, advances through two hepatization (liver-like) phases, and then heals.
Step 2: Red hepatization gives a red, firm, fibrin and red-cell laden lobe, and gray hepatization follows with a dry grayish lobe as red cells break down and macrophages move in. These are the consolidation phases sitting in the middle of the course.
Step 3: The closing phase is resolution, where enzymes digest the exudate, macrophages clear the debris, and the alveoli re-aerate to normal lung. Being the last step in the timeline, it is the terminal stage.
Step 4: Since the question wants the last stage, the answer is resolution.
\[\boxed{\text{Resolution}}\]