The invention provides a multi-compartment container for storing and dispensing separately a plurality of consumable liquids that can be mixed in an accurate and repeatable manner. Each storage compartment within the container encloses a predetermined quantity of a consumable liquid, wherein the first compartment is filled with a first liquid and the other compartments are filled with second and third liquids. The individual storage compartments are structurally merged to form elongated dispensing compartments each with a first end and a second end, wherein a one-way outlet positioned at the first end and a one-way outlet located at the second end permits passage of liquid from the storage compartments into the corresponding dispensing compartments. Upon fully inverting the container, the designated outlet of each dispensing compartment is opened, wherein precise amounts of liquids in the first, second, and third compartments are dispensed at constant volume ratio using gravity.