Most MSW inverters are square wave at 50% duty cycle, it works out that the rms and peak values correspond with a sine wave so they run incandescent lamps as for sine wave and the peak is the same as a sine wave for things that rectify and smooth to dc.
Assuming 110 ac will have a peak of about 154v then the 50% figure would give an average of 77v.
Most cheap meters read mean but are scaled to show the value as rms of a sine wave.
Allowing for the form factor you should read somewhere just over 80v so that seems reasonable.
As others have said the simplest way is to compare light with a filament lamp against known 110rms.
Flux
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