The spelling of the word "GOSPI" can be explained using the International Phonetic Alphabet (IPA). It is pronounced as "ɡɒspi" where "ɡ" represents the voiced velar stop, "ɒ" represents the open back rounded vowel, "s" represents the voiceless alveolar sibilant and "p" represents the voiceless bilabial plosive. This phonetic transcription helps us understand the sounds that make up the word and the correct way to spell it. In other words, it ensures that we use the right combination of letters to represent the sounds accurately.