Final answer:
The xiphoid process is the structure located at the inferior tip of the sternum, which starts out as cartilage and ossifies during adulthood.
Step-by-step explanation:
The structure located on the sternum that is referenced in the question is the xiphoid process. The sternum itself is a crucial part of the human thoracic skeleton, providing an anchor for the anterior side of the rib cage. It is categorized into three primary regions: the manubrium, body, and xiphoid process. Among the options provided, the xiphoid process is the correct answer as it represents the inferior tip of the sternum. Early in life, this process is composed mostly of cartilage, becoming ossified as one ages into middle age.