Yes, lats is in the scrabble dictionary

...and is worth 5 points by itself.

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Lats Definition

noun

See Table at currency.

from The American Heritage Dictionary of the English Language, 4th Edition

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Top Words by points	Points
last	4

2 letter words with LATS	Points
as	2
at	2
al	2
ta	2
la	2

3 letter words with LATS	Points
tas	3
sat	3
sal	3
lat	3
las	3
ats	3
alt	3
als	3

4 letter words with LATS	Points
last	4
lats	4
alts	4
salt	4
slat	4

Found 18 words in 0.10721 seconds