I would like to run a new bathroom on one 20 amp circuit. The shortest route for cables would follow this order.

Panel to GFCI outlet (12/2)
GFCI outlet to 1st wall sconce (12/2)
1st wall sconce to 2nd wall sconce (12/2)
2nd wall sconce to vent fan/light combo (12/2)
vent fan/light combo to dimmer switch for light and regular switch for fan (12/3)

Is this possible to do?

If so, can anyone point me to a wiring diagram or tell me how to do it?

My other option would be to follow this order, which is easier, just requires more cable.

Panel to GFCI outlet (12/2)
GFCI outlet to dimmer switch for light and regular switch for fan (12/2)
dimmer switch for light and regular switch for fan to vent fan/light combo (12/3)
vent fan/light combo to 1st wall sconce (12/2)
1st wall sconce to 2nd wall sconce (12/2)