This question is not too hard provided one uses the right definiton of compact operator. The one which works best here (for me at least) is that an operator $C:X \to X$ is compact if and only if it takes sequences in the unit ball in $X$ into sequences having Cauchy convergent subsequences. This is one of the several equivalent formulations given in the wikipdia page for compact operators, http://en.m.wikipedia.org/wiki/Compact_operator. To see it applies in this case, we employ it to show that, if $C$ is compact, then both $AC$ and $CA$ are compact for any bounded $A \in L(X)$, and this will establish that $L_c(X)$ is in fact a two-sided ideal in $L(X)$, the algebra of bounded operators on $X$.
Before proceding with the details of the proof, however, we note that the definition may be expanded slightly to affirm that compactness is equivalent to the hypothesis that $A$ maps sequences in any ball to sequences with Cauchy subsequences. This is clearly a logical consequence of the wikipedia definition, since a sequence $x_j \in \bar B(0, R)$, the closed ball of radius $R$ about $0$, may be scaled by $R^{-1}$ to become a sequence $R^{-1} x_j \in \bar B(0, 1)$; then $A(R^{-1} x_j)$ has a Cauchy subsequence, and hence, scaling such a subsequence by $R$, we see that $R(A(R^{-1} x_j)) = Ax_j$ has a Cauchy subsequence as well. So the two variants of the definition are equivalent.
We use these observations to produce the desired result. If $A \in L(X)$ and $C \in L_c(X)$, and $x_j \in \bar B(0, 1)$, then $Cx_j$ has a Cauchy subsequence and so, by continuity (since $A$ is bounded), does $ACx_j$ (simply take the image of a Cauchy subsequence of $Cx_j$ under $A$). This shows $AC$ is compact, so $L_c(X)$ is a left ideal. To see that it is also a right ideal, consider the sequence $Ax_j$, again with $x_j \in \bar B(0, 1)$. Since for every $j$ $\Vert Ax_j \Vert \le \Vert A \Vert \Vert x_j \Vert \le \Vert A \Vert$, we see that the sequence $Ax_j \in \bar B(0, \Vert A \Vert)$, whence according the "enhanced definition" of compact $C$ we have just developed, $CAx_j$ contains a Cauchy subsequence, so that $CA$ is compact. Thus $L_c(X)$ is a right ideal in $L(X)$ as well as a left ideal; it is thus two-sided, as was to be shown. QED.
Hope this helps. Cheerio,
and as always,
Fiat Lux!!!