I would replace the seat cover. I think you have the right idea of fixing it before the foam gets ruined. What I did for my Rancher was get a new seat cover on eBay and install it myself. It only cost something like $20. It is best to do it on a hot, sunny day because the heat allows the seat cover to be flexible and also can be stretched over your old foam and frame. Stretch it as much as possible. I used a manual stapler to staple it to the frame. No wrinkles. Looks like new and is holding up very well.