How are you numbering the cylinders?

To you what number is the frontmost driver side cylinder?

To you what number is the rearmost passenger side cylinder?

Did you fully open the throttle butterflys and use a block of wood at the cable lever to hold then open while doing the compression tests?

If #1 is 40 psi low,
and does not improve
with a shot or two of SAE 50 wt motor oil into that cylinder prior to another compression check,
and does not improve
with sprays of Chrysler Combustion Chamber Cleaner-conditioner to remove valve deposits,
I would remove the valve cover and check
rocker arm, pushrod and spring
since those are quickly do-able and less expensive repairs.

One of the inexpensive Harbor Freight video borescopes with the smaller 9 mm camera head would be able to look in through the sparkplug hole, and in through the valve cover oil fill cap without disassembly.