转换数组方向

Can anyone help me transforming an array. It's actually a query result from a MySQL database.

Existing:

(
[ITEM] => Array
        (
            [0] => PRODUCT A
            [1] => PRODUCT B
            [2] => PRODUCT C

        )

[REFERENCE] => Array
        (
            [0] => 107AW3
            [1] => 204RS67O
            [2] => 25GTR56

        )

Wanted:

 (
    [0] => Array
        (
            [ITEM] => Product A
            [REFERENCE] => 107AW3
        )

    [1] => Array
        (
            [ITEM] => Product B
            [REFERENCE] => 204RS67O
        )

    [2] => Array
        (
            [ITEM] => Product C
            [REFERENCE] => 25GTR56
        )

What can I do to transform the array into the wanted one? A glance of info, it is actually a query from MySQL:

if ($result->num_rows > 0) {
    // output data of each row
    while($row = $result->fetch_assoc()) {
        $item_array[] = $row["item"];
        $reference_array[] = $row["reference"];  
    }
} 

table_content = array('ITEM'=>$item_array,
                      'REFERENCE'=>$reference_array);

echo '<pre>'; print_r($table_content); echo '</pre>';

You can use only one array:

if ($result->num_rows > 0) {
        // output data of each row
        while($row = $result->fetch_assoc()) {
          $item_array[] = [
             'ITEM' => $row["item"],
             'REFERENCE' => $row["reference"],
          ];
      }
    }