Air leaking past piston rings?

Hello, I'm installing a new cam so I have the top of my engine off. With No pushrods installed, all valves closed and spark plugs still in. When I turn the crankshaft I hear air leaking past piston rings. I did a dry compression test (engine cold) 1=112, 2=115, 3=124, 4=130, 5=115, 6=120, 7=115, 8=115. So my question is that normal for air to bypass? 1971 sb. 318LA