I'm no expert on this, but since no one else seems to be chiming in, I'll offer this.

Currently the board has a 41 microhenry inductor (yellow brown black silver).

And it seems like currently, the inductor is outputting a value slightly higher than 50ma. I would like try several different values of inductors so that i can use the least amount of current to produce an acceptable amount of light, but i am unsure of how to calculate the current based on the inductor size.

https://www.mikrocontroller.net/attachment/158139/QX5252.pdf

There is a formula on the data sheet, but it doenst seem to create sensibe results:

Pled = (2VIN/L)*10^-6

(2*1.5)/41)*10^-6 = .00000007

Even if that is amps, its not right... :-/

On the third page there's a table of inductance values vs current. According to that table, a 41uH inductor should result in around 80mA.

Why not just use the table? I has a nice list of inductor values and currents.

Also, it would help if you told us more about your circuit. Like how many LEDs are you trying to drive per circuit?

The datasheet shows a couple of LEDs in parallel, but that's no a great way to do it. At any rate, if you do use more than one LED in parallel, the current will divide across those LEDs. So, if the 5252F is supplying 50mA, each LED will get 25 mA [in a perfect world -- but the world is not so perfect, so the division of current will not be so predictable -- BUT, the currents in the LEDs, even if not equal, will always add up to the current being supplied by the 5252F.

But, regarding the formula, the inductance is probably in Henrys, so it 41x10

^{-6}, thus:

(2*1.5)/(41x10

^{-6)})*10

^{-6} = .073 or 73mW -- which sounds about right

If one LED with a forward voltage of 3V, then 73mW/3V = 24mA