Preheat oven to 350 degrees F (175 degrees C). Grease cookie sheets.
In a large bowl, cream together the shortening, white sugar and brown sugar until smooth. Beat in the eggs one at a time, then stir in the vanilla. Combine the baking powder, baking soda and oats; stir into the sugar mixture. Fold in the wheat cereal, and coconut. Drop dough by teaspoonfuls onto the prepared cookie sheets. Flatten slightly with a fork.
Bake for 10 to 12 minutes in the preheated oven, or until light brown.