Abstract: A compact, gravity fed storage and dispensing rack for beverage containers. The box-like rack comprises a pair of rigid, generally parallel, and spaced-apart side walls terminating in a rear wall. A pair of upper and lower lengthwise inclined shelves extend generally transversely between the opposing sides. The upper shelf is inclined downwardly interiorly from an access end of the rack. The lower shelf is inclined downwardly from the rear wall towards the access end. Containers roll from the upper shelf at the rack access end into the interior of the rack, through a transfer throat, and then down the lower ramp back to the rack access end for access. To encourage reliable bottle transfer, both shelves are edgewise inclined and transfer throat is defined within the frame between the end of the upper shelf and the beginning of the lower shelf. A variable extension tongue is slidably associated with the input shelf.