Why is the current wrong after resistors in series with simple LED?
You're probably measuring the current wrong. Are you placing the meter in series, with the resistors and led?

If you are only measuring the current across the resistors, 2.7V across 40 ohms = 68 milliamps. But then you have to take into account that the battery has a high Equivalent Series Resistance. As the current rises, the voltage drops across the ESR, leading to a lower battery voltage, etc etc. That's the most possible situation.

You have to measure the current with the multimeter in series with the battery, resistors, and led.