Referring css properties

In the following codepen: codepen, doesnt the css statement .tab-panels ul li {} refer to the li tags? Then why does display: inline-block; affect the ul tags?

I might be confused about what you’re asking, but when I comment out display: line-block from .tab-panels ul li, it affects the list items panel1 through panel4, switching them to their default of display: block. What are you seeing about the ul that changes?

@llam my mistake. wasnt clear enough. What i meant was, shoudnt .tab-panels ul li affect the list items content1, content2 content3 ...? With further observation i am now clear with what is happening and the confusion happened because of my carelessness. I shall be deleting the question as it doesnt serve any constructive purpose.