You don't need the p tag as you can make one li tag align right.
Or you can put a ptag inside an li tag and align that right.
Either of these:-
<ul>
<li style="width: 10em; text-align: right;">text</li>
<li style="width: 10em;"><p style="text-align: right;">text row2 in p tag</p></li>
</ul>