I hate to be the spoiler here, but both the current and wattage numbers are likely correct. With many AC devices, volts X current does not always equal watts. There is another electrical term called "Power Factor". Incandescent bulbs have a power factor of 1.0, which means that volts X amps are watts. Many electronic devices have a power factor less than 1, and since watts (true power) is volts X amps X power factor, if the power factor is less than 1, volts X amps will be greater than the actual watts (note that volts X amps is referred to as VA). Some electronic devices (like newer PC power supplies) add a function called "Power Factor Correction" which will result in a power factor of close to 1. Good news is that your electric meter measures true watts, not VA, so you do not pay for power factor less than 1. Some industrial users do pay for what is known as "bad power factor", but residential customers do not.
In order to read the true watts you would need a true power factor meter. many are quite expensive, but you can buy something like a Kill-A-Watt meter which will read the true watts as well as VA.
Reference:
https://en.wikipedia.org/wiki/Power_factor
Paul