The spelling of the word "cocaine loaf" can be tricky to decipher, but with the help of IPA phonetic transcription, it becomes clearer. The first syllable "co-" is pronounced as "koh" (kəʊ), followed by "caine" which is pronounced as "kayn" (keɪn). The final syllable, "-loaf," is pronounced as "lohf" (loʊf). Therefore, the spelling of the word "cocaine loaf" is accurately represented as koh-kayn-lohf. Although a controversial term, it is essential to understand its accurate pronunciation to avoid confusion and misunderstandings.