How to perform x = x + y in Rules
Have a look at my answer to the question about "How to add up all items of a field collection field using Rules?". Your question is, IMO, a minor variation of it. Just replace article-details-item:field-price by line_item_quantity (as in your pseudocode) and it is close to identical.

The custom rule to do the calculation, looks like so:

{ "rules_calculate_sum_of_prices_in_all_field_collection_items" : {
    "LABEL" : "Calculate sum of prices in all field collection items",
    "PLUGIN" : "reaction rule",
    "OWNER" : "rules",
    "REQUIRES" : [ "rules" ],
    "ON" : { "node_view--article" : { "bundle" : "article" } },
    "IF" : [
      { "entity_has_field" : { "entity" : [ "node" ], "field" : "field_article_details" } }
    ],
    "DO" : [
      { "drupal_message" : { "message" : "\u003Cstrong\u003EDrupal calculator\u003C\/strong\u003E started ..." } },
      { "variable_add" : {
          "USING" : { "type" : "decimal", "value" : "0" },
          "PROVIDE" : { "variable_added" : { "total_price" : "Price total" } }
        }
      },
      { "LOOP" : {
          "USING" : { "list" : [ "node:field-article-details" ] },
          "ITEM" : { "article_details_item" : "Article details item" },
          "DO" : [
            { "data_calc" : {
                "USING" : {
                  "input_1" : [ "total-price" ],
                  "op" : "+",
                  "input_2" : [ "article-details-item:field-price" ]
                },
                "PROVIDE" : { "result" : { "calculation_result" : "Calculation result" } }
              }
            },
            { "data_set" : { "data" : [ "total-price" ], "value" : [ "calculation-result" ] } },
            { "drupal_message" : { "message" : "After adding a price of \u003Cstrong\u003E[article-details-item:field-price]\u003C\/strong\u003E for field collection item with id \u003Cstrong\u003E[article-details-item:item-id]\u003C\/strong\u003E, subtotal is \u003Cstrong\u003E[calculation-result:value]\u003C\/strong\u003E." } }
          ]
        }
      },
      { "drupal_message" : { "message" : "The \u003Cstrong\u003ETotal price\u003C\/strong\u003E for all prices included as field collection items is \u003Cstrong\u003E[total-price:value]\u003C\/strong\u003E." } },
      { "drupal_message" : { "message" : "\u003Cstrong\u003EDrupal calculator\u003C\/strong\u003E ended ..." } }
    ]
  }
}


Enough to get you going and get it to work (or should I say "How good are you in reading/digesting the Rules-export-language)?