Preheat the oven to 350 degrees F. Line a baking sheet with parchment paper.

With an electric mixer, beat the shortening, butter and sugar until creamy. Add the egg and vanilla, then beat until well mixed.

In a separate bowl stir together the flour and baking soda, then add the flour mixture to the butter mixture and stir until blended. Stir in the cereal and coconut (and chocolate and nuts, if using).

Drop the cookies by level tablespoon onto the baking sheet and bake for 8 to 10 minutes.

Let cool on a rack.