Courtney Nevin's 28th-minute free kick opened the scoring for world No.15 Australia in Saturday night's (Sunday AEDT) friendly, with Kerr handed a start and making it through 65 minutes in her first Matildas game in 725 days.
World No.32 Wales levelled the scores in the 55th minute via 18-year-old midfielder Mared Griffiths, but Foord came to the rescue with an 85th-minute winner.
Kerr, who only recently returned to playing duties following a nightmare 20-month recovery from an ACL rupture, had some nice moments but didn't produce any of her trademark bang.
The 32-year-old's biggest contribution was actually a piece of play in which she failed to make contact with the ball.
Nevin's free kick into the box looked set to be tapped in by Kerr from point-blank range.
Kerr failed to connect with her swinging boot, but it proved to be a blessing as the ball bounced pass the wrong-footed goalkeeper and in for a goal.
"It was good to be back with the girls," Kerr told BBC Sport after the match.
"It's a massive honour to play for your country. I've grown up with these girls, so it was good just to get back out there and enjoy some footy.
"We're looking forward to the Asian Cup. A lot of work to be done, but today is a nice result and a nice little boost for the future."
Katrina Gorry fired a fifth-minute warning when her thundering shot from outside the box struck the crossbar.
Retiring Welsh icon Jess Fishlock, in her No.10 jersey, received a minute of applause once the clock hit 10 minutes in her 116th and last international.
Kerr was starved of opportunities early, with a couple of the passes to her in the box containing too much heat to handle.
The pivotal moment of the first half came when Nevin's free kick evaded Kerr's boot and bounced in for a goal, with Kerr immediately pointing to her teammate to let her know whose goal it was.
It marked Nevin's first international goal in what was her 38th appearance.
Foord and Hayley Raso were Australia's two biggest weapons in the first half, with the visitors enjoying 64 per cent possession.
Raso was making her 100th appearance, with Kerr handing the 31-year-old the captain's armband to mark the occasion.
Wales were on level terms 10 minutes into the second half when Griffiths turned her body around and unleashed a beautiful chip over goalkeeper Teagan Micah.
Australia scored a late winner when Kyra Cooney-Cross centred the ball to an unmarked Foord, who made no mistake from just seven yards out.
Courtney Vine came off the bench late in what marked her first Matildas appearance since the Paris Olympics.
The Matildas will be back in action next Tuesday night (Wednesday morning AEDT) when they continue their build-up to March's Asian Cup against England at Pride Park Stadium in Derby.
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