Before I start, for those who have posted that it is cheaper to go out and buy an inverter rather build your own, it entirely depends on which part of the world you live in. The total cost of parts for a 2000 Watt Sine wave inverter outside of "developed" nations is roughly $30.00 USD.
We are doing some solar power system design and decided to look at pricing of panels all over the world. If you live in Canada, boy are you getting fleeced! Check this out. Solar Panel Canadian Tire 80 watts. You can get one 240 panel for $432.00 USD. It would cost you over $2000.00 for the equivalent amount of wattage. No wonder North Americans have to mortgage their homes and live off credit cards!!!!
If you guys don't start manufacturing your own stuff soon... but that's for another forum.
Here's the info we wanted to share. We had a tech do some efficiency calculations on a 300 Watt inverter, 12VDC in, 115VAC out, 60 Hz. He came back with efficiencies over 100%!!!! Here's why.

The DMM gave a 124 VAC reading. When the rated 115 VAC inverter voltage was used, it was still showing over 100% efficiency.
After looking at it on the scope and calculating the actual pulse width, we quickly dispelled the over unity theory and produce a realistic and acceptable 85% Efficiency.