I use a monocoat heating iron to taper the edges of the foamboard. It melts the foam under the paper to seal it and allows me to get a nice aerodynamic taper at the same time. If you want a flat edge, you can do that as well. This is a really fast way to seal your edges, and adds no weight.
This also works great for bonding the hinge lines instead of sealing them with squegeed hot glue.