So I spent about 1 hour or so doing the math in order to see what mix of armor would be the most optimal (and most fashionable) mix between armors to maintain medium weight and I came to this conclusion.
The order is boots, leggins, gloves, shirt and hat , while the weights are S=small, M=medium and H=heavy, the closest the number is to 23 should be the best weight-to-armor and keep in mind you can exchange the boots,gloves and hat since they weight the same in their respective classes (so you can change a Heavy hat for Medium boots and viceversa).
PS:Anything under 21.5 I deemed as not worth it but I might be wrong
First off armor without a shield would be:
Armor with a Light shield (2.7):
Armor with a Medium shield (5.4):
Armor with a Heavy shield (11):