First, thank you for the reply.
After walking away from it for awhile, I was able to reach my goal. It turns out that the brunt of the resolution was in the MySQL statement, rather than the PHP code. I was able to get the math by using the SQL statement:
$query = mysql_query("SELECT sum(qty*price) FROM cart WHERE cartID='" .$cartID. "'");
Then, wrapped in a WHILE loop, I get the appropriate sum using a PHP variable.
Don't know if that is the easiest way of doing things, but it works wonderfully, so I'm happy!
Again, thanks for the reply. I will be marking this as RESOLVED!