Assuming the field is in your details section, create the conversion formula at that level. That way, you should be able to summarize it just as you would a regular number field.
The formula would look like:
[tt]
If IsNull({IM1_InventoryMasterfile.Weight}) Then
0.00
Else
Val({IM1_InventoryMasterfile.Weight});
[/tt]
Right click it, and you should be able to create summaries on it.
-dave