I've got a Greatest Hits Kinks CD. It has the Cherry Cola version and it sounds clear to me that it finishes
She said, "Little boy, gonna make you a man"
Well I'm not the world's most masculine man
But I know what I am and I'm glad I'm a man AND SO IS LOLA [added by Matt]
I've just listened to some random utoob version (without the lyrics in front of me) and the above is definitely correct.
The last few posts have overlooked the four bolded words that finish the story. My conviction is that they do NOT provide an unambiguos twist.
Is Lola a man? Maybe...
Or is Lola glad? Also, maybe ...
This is consistent with all the other verses being written with deliberate ambiguity. This is typical of lyrics in the 60s-80s; noone was brave enough to put certain things in black-n-white (e.g. see Golden Brown which is PROBABLY about Heroine. And Lucy In the Sky ... etc ... )
e.g.
Well, I'm not dumb but I can't understand
Why she walked like a woman but talked like a man
Once you decide that Lola IS a man, this lyric seems to confirm it. But it's written as a hint ... open to interpretation ...
Incidentally, with either reading I think it's a lovely song, because he's clearly happy about the relationship! How can you not love this bit:
Well, that's the way that I want it to stay
And I always want it to be that way
for my Lola
L-O-L-A, Lola
Girls will be boys and boys will be girls
It's a mixed up, muddled up, shook up world,
except for Lola
La-la-la-la Lola