Declared Rules by Specificity
At the top of the rule panel, we can see directly targeted selector-blocks sorted by their relative weight: a combination of specificity and source-order. Generally rules higher up in the panel will overrive rules lower down.
Inherited Rules by Distance
Below the targeted rules we can see inherited properties from ancestor selectors: from the closest parent all the way back to the document root. The closest ancestor will always win.
Computed Values for User Agent Styles
UA Styles do not appear in the rule panel, but can be seen in the Computed panel.